In a major development, the highly anticipated Gwadar Free Zone North, also known as Phase II, is set to formally commence operations within the next month.
The free zone, spanning an expansive area of 2,221 acres, will offer a remarkable 20-year exemption from taxes and customs duties.
This significant milestone comes hand in hand with Agven Private Limited’s preparations for its inaugural production operation, scheduled for the second week of August. Agven Private Limited, an export fertilizer company, is the pioneering investor to establish an industry within the Gwadar Free Zone North.
The company has acquired a 10-acre plot of land within the zone to construct a fertilizer factory, bringing a diverse range of products and adding to the industrial landscape of Gwadar.
Hangeng, an export-oriented company, along with its subsidiaries ‘Hangeng Trade Co (SMC-PVT) Ltd’ and ‘Yuanhua Industrial Co,’ is also gearing up to initiate operations within the Gwadar Free Zone North.
Hangeng Trading Co. Ltd. aims to facilitate agricultural product cultivation and procurement, including aloe vera, while also importing pharmaceutical raw materials for processing within the free zone. The finished products will then be exported to China.
The formal operations of Gwadar Free Zone North promise to be a significant boost to the region’s economic growth and attract further investment opportunities.
This development opens new horizons for the establishment of various industries, further strengthening Gwadar’s position as a thriving industrial and commercial hub.
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