$200 mn to be invested on IT tower in Karachi

Karachi: The construction of Pakistan’s tallest 47-storey IT tower adjacent to Civic Centre started at a cost of $200 million with the signing of an agreement in Kuala Lumpur on Friday.

City Nazim Syed Mustafa Kamal signed the agreement on behalf of the City District Government Karachi and Gochi Kon on behalf of the Malaysian construction company IM Technologies, a consortium of IGM Investment, Jable-Ali Limited and Mall Park Limited.

The consortium will construct the IT tower in 24 months, which will consist of three shopping malls of international standard, 12,000-seat call centre, 240-room five-star hotel, business centres and car parking facility for 2,100 vehicles while 50,000 people will be given employment opportunities.

Addressing the ceremony, Mustafa Kamal said that the cooperation of Malaysian companies and investments made by them in ongoing mega projects in Karachi will prove helpful in bringing the two countries closer to each other.

He said the importance of the project can be judged from the fact that 4,000 out of 10,000 call centre seats have already been booked before the beginning of work. He was confident that by working together, the IT complex project could be completed much before the stipulated timeframe of 24 months.