Marble City a priority project

Transcription

1 Marble City a priority project September 17, 2012 KARACHI (NNI): Marble City is one of the priority projects of Sindh government and Sindh Board of Investment (SBI), through Sindh Stone Development Company is committed towards the successful materialization of this project at an earliest. This was stated by Chairman SBI, Muhammad Zubair Motiwala at a 3rd Board meeting of Sindh Stone Development Company (SSDC) Marble City hel d under his Chairmanship at SBI office, Karachi. Board of SSDC reviewed the progress of the proposed Marble City. Muhammad Zubair Motiwala said that this project is also planned to have a dedicated training center, which would be a key to providing the technical and vocational training for skill development.

2 September 17, 2012 Marble City a priority project of SBI: Motiwala KARACHI Marble City is one of the priority projects of Sindh government and Sindh Board of Investment (SBI), through Sindh Stone Development Company is committed towards the successful materialization of this project at an earliest. This was stated by Chairman SBI, Muhammad Zubair Motiwala at a 3rd Board meeting of Sindh Stone Development Company (SSDC) Marble City held under his Chairmanship at SBI office, Karachi. Board of SSDC reviewed the progress of the proposed Marble City. Muhammad Zubair Motiwala said that this project is also planned to have a dedicated training center, which would be a key to providing the technical and vocational training for skill development. He also proposed to allocate land for a Trauma Center to cope up any disaster. Chairman SSDC/SBI said that the earning would also increase from improved skill imparted through training by experts in marble and granite sector. Muhammad Zubair Motiwala also proposed and Board of SSDC unanimously approved to induct Secretary Finance, GoS as member of SSDC Board. Secretary Finance, Government of Sindh, Mr. Arif Ahmed Khan said the project was envisaged to be executed as a priority project.arif Ahmed Khan further said that it is important to find out the existing market scenario for determining the future course of action through a detailed technical study for this project. Mohammad Riazuddin DG, SBI extended his full support in expediting the project. The Director SSDC Sanaullah Khan has said that the Marble City project will strengthen the untapped and un-exploited sector of stones in Sindh. Mr. Haroon Rashid, Director SSDC emphasized on the opportunity of brining in the Foreign Direct Investment at Marble City. He further said that there are possibilities of Joint Venture alliances with foreign companies for production and processing. Earlier, Abdul Azeem Uqaili, Director, SBI briefed the board about the project and said that 300 acres of land in Deh Mithaghar 2 kms off Northern Bypass near Hamdard University has been procured for the establishment of Marble City project. Abdul Azeem Uqaili, Company Secretary SSDC and Director Projects SBI informed the procurement of the consultant for feasibility and transaction advisory services in underway.

3 300 acres land purchased for Marble City project * Cost of land is said to be Rs 200m * SBI chairman says setting up Marble City project top priority By Razi Syed KARACHI: Around 300 acres of land in Deh Mithaghar two kilometres off Northern Bypass near Hamdard University has been procured for the establishment of Marble City project with a cost of Rs 200 million. The procurement of the consultant for feasibility and transaction advisory services is underway. The third board meeting of Sindh Stone Development Company (SSDC) Marble City under chairmanship of Sindh Board of Investment (SBI) Chairman Muhammad Zubair Motiwala reviewed the progress of the proposed Marble City project. He said the earning would also increase from improved skill imparted through training by experts in marble and granite sector. This project is also planned to have a dedicated training centre, which would be a key to providing the technical and vocational training for skill development. The meeting proposed to allocate land for a Trauma Centre to cope up any disaster. Marble City is one of the priority projects of Sindh government and SBI, said SSDC Director Sanaullah Khan. He said the Marble City project would strengthen the untapped and unexploited sector of stones in Sindh. The SSDC director emphasised on the opportunity of bringing in the foreign direct investment at Marble City, as there were possibilities of joint venture alliances with foreign companies for production and processing. Pakistan Stone Development Company and SSDC should enlist all the mines across Pakistan or part of their jurisdiction, which are operational. Khan said enlistment should cover mines operating directly by the mine owner or by the contractor working under contractual agreement. To attract international and domestic investment, survey regarding mine viability should be done to determine current operational modus operandi, deposit strength, work force technical expertise level and monthly production.

4 Marble products and stone export from Pakistan during July 2011 to June 30, 2012 stood at $55.10 million. Since the worth of world stone industry is over $100 billion and Pakistan s share is standing at a deplorable figure of percent therefore every market is open to be explored irrespective of their current state of economics. Marble sector should be divided into different variants like mining or quarrying, supply chain, processing, marketing or sales, trade promotion, machinery, capacity building, finances and training. The reason of this division is to have a focused approach towards each activity and also some will have short-term plans and some will follow long-term ones. State Bank of Pakistan should instruct banks to offer natural stone specific financing products including offering Long-Term Financing (LTF) loans or LTF Murabaha to natural stone sector. Upgraded mines will definitely give better and up to standard produce, which will be helpful to bring the cost level down to make our products to have a broader market base. Board of SSDC unanimously approved to induct Sindh government s finance secretary as a member of SSDC board.

5 Marble City top priority of SBI: Motiwala KARACHI - Chairman Sindh Board of Investment (SBI) Muhammad Zubair Motiwala said on Sunday that Marble City was one of the priority projects of the Sindh government and SBI, and that Sindh Stone Development Company (SSDC) was committed towards the successful materialization of this project at the earliest. He said this at the 3rd board meeting of SSDC held under his chairmanship at SBI office, Karachi. Board of SSDC reviewed the progress of the proposed Marble City. Motiwala said that this project was also planned to have a dedicated training center which would be a key to providing technical and vocational training for skill development. He also proposed to allocate land for a Trauma Center to cope up any disaster. He said further that the earning would also be increased from improved skill imparted through training by experts in marble and granite sector. Muhammad Zubair Motiwala also proposed to induct Sindh government s secretary finance as member of SSDC Board, a move unanimously approved by the board. The provincial government s Secretary Finance Arif Ahmed Khan said the project was envisaged to be executed as a top priority. Khan further stated that it was important to find out the existing market scenario for determining the future course of action through a detailed technical study for this project. DG SBI Mohammad Riazuddin extended his full support in expediting the project. Mr Haroon Rashid, Director SSDC, emphasized on the opportunity of brining in the foreign direct investment at Marble City. He further said that there were possibilities of Joint Venture alliances with foreign companies for production and processing.

6 Establishment of Marble City a priority project of SBI: Motiwala Karachi Marble City is one of the priority projects of Sindh government and Sindh Board of Investment (SBI), through Sindh Stone Development Company is committed towards the successful materialization of this project at an earliest. This was stated by Chairman SBI, Muhammad Zubair Motiwala at a 3rd Board meeting of Sindh Stone Development Company (SSDC) Marble City held under his Chairmanship at SBI office, Karachi. Board of SSDC reviewed the progress of the proposed Marble City. Muhammad Zubair Motiwala said that this project is also planned to have a dedicated training center, which would be a key to providing the technical and vocational training for skill development. He also proposed to allocate land for a Trauma Center to cope up any disaster. Chairman SSDC/SBI said that the earning would also increase from improved skill imparted through training by experts in marble and granite sector. Muhammad Zubair Motiwala also proposed and Board of SSDC unanimously approved to induct Secretary Finance, GoS as member of SSDC Board. Secretary Finance, Government of Sindh, Mr. Arif Ahmed Khan said the project was envisaged to be executed as a priority project. Arif Ahmed Khan further said that it is important to find out the existing market scenario for determining the future course of action through a detailed technical study for this project. Mohammad Riazuddin DG, SBI extended his full support in expediting the project. The Director SSDC Sanaullah Khan has said that the Marble Cityproject will strengthen the untapped and un-exploited sector of stones in Sindh. Mr. Haroon Rashid, Director SSDC emphasized on the opportunity of brining in the Foreign Direct Investment at Marble City. He further said that there are possibilities of Joint Venture alliances with foreign companies for production and processing. Earlier, Abdul Azeem Uqaili, Director, SBI briefed the board about the project and said that 300 acres of land in Deh Mithaghar 2 kms off Northern Bypass near Hamdard University has been procured for the establishment of Marble City project. Abdul Azeem Uqaili, Company Secretary SSDC and Director Projects SBI informed the procurement of the consultant for feasibility and transaction advisory services in underway. NNI

7 Establishment of marble city a priority project of SBI: Muhammad Zubair Motiwala 300 acre land acquired, Rs.200 million earmarked for project: Chairman SBI/SSDC KARACHI: Marble City is one of the priority projects of Sindh government and Sindh Board of Investment (SBI), through Sindh Stone Development Company is committed towards the successful materialization of this project at an earliest. This was stated by Chairman SBI, Muhammad Zubair Motiwala at a 3rd Board meeting of Sindh Stone Development Company (SSDC) Marble City held under his Chairmanship at SBI office, Karachi. Board of SSDC reviewed the progress of the proposed Marble City. Muhammad Zubair Motiwala said that this project is also planned to have a dedicated training center, which would be a key to providing the technical and vocational training for skill development. He also proposed to allocate land for a Trauma Center to cope up any disaster. Chairman SSDC/SBI said that the earning would also increase from improved skill imparted through training by experts in marble and granite sector. Muhammad Zubair Motiwala also proposed and Board of SSDC unanimously approved to induct Secretary Finance, GoS as member of SSDC Board. Secretary Finance, Government of Sindh, Mr. Arif Ahmed Khan said the project was envisaged to be executed as a priority project. Arif Ahmed Khan further said that it is important to find out the existing market scenario for determining the future course of action through a detailed technical study for this project. Mohammad Riazuddin DG, SBI extended his full support in expediting the project. The Director SSDC Sanaullah Khan has said that the Marble City project will strengthen the untapped and un-exploited sector of stones in Sindh. Mr. Haroon Rashid, Director SSDC emphasized on the opportunity of brining in the Foreign Direct Investment at Marble City. He further said that there are possibilities of Joint Venture alliances with foreign companies for production and processing. Earlier, Abdul Azeem Uqaili, Director, SBI briefed the board about the project and said that 300 acres of land in Deh Mithaghar 2 kms off Northern Bypass near Hamdard University has been procured for the establishment of Marble City project. Abdul Azeem Uqaili, Company Secretary SSDC and Director Projects SBI informed the procurement of the consultant for feasibility and transaction advisory services in underway.