Pak: Marble City project in doldrums

Karachi: The federal government has already sanctioned funds for the development of Marble City, but due to red tapism, the project has been in the doldrums. All Pakistan Marble Mining Processing Industry and Exporters Association (APMMPIEA) said the PC one of these projects was approved last year by the former government in June 2007.

Former chairman APMMPIEA, Sanaullah Khan said that around $260 billion construction projects are about to start in new cities in Saudi Arabia and they are interested in Pakistan’s fine marble.

He said, “If the government gives us full-flash authority for the construction of the Marble City then we will make investments on our own behalf and within a short period of time till 2010 production will initiate.”

He said the government has approved Karachi Marble City proposal submitted from APMMPIEA and around 350 acres of land on Northern Bypass has already been allocated for this project.

He said this during a meeting with Sindh Minister for Commerce and Industry, Rauf Siddiqui. The minister assured him of an early resolution of the issue and start of Marble City project on war footing basis.

He said during July to October 2008, the marble sector’s export stood at around $13.30 million as compared to $7.5 million during the same period last year.

He said the export target for 2008-09 was fixed at $35 million and under such situation the need of Marble City was imminent.

He said after setting up of Marble City, the marble exports would enhance to $2.5 billion in the next 10 years.

Under vision 2016, in Marble City the number of industrial units would be increased up to 5,000.

Pakistan has great chance of marble export as Saudi Arabia is also one of the top 10 globally competitive investment destinations and has initiated the development of complete and new cities in the Kingdom.

He said Saudi Arabia is to build world’s tallest building at around 1,000 metres, new town in Jeddah, Emaar developing a $7 billion Saudi project and $120 million for Saudi port improvement. More than 285 civil construction projects worth $260 billion are currently underway or in design in Saudi Arabia, according to the latest analysis.

The database of active civil projects under construction or in design illustrates the extent of the continuing boom in Saudi Arabia’s property development industry with the top 10 alone valued at over $200 billion.

King Abdullah Economic City with $93 billion is under construction by Emaar Economic City Company.

Prince Abdulaziz Bin Mousaed Economic City with $53 billion is under construction. The project includes a logistics centre, airport, an agricultural and entertainment zones, a mining city, a petrochemical zone, a business centre, an educational zone and a residential area. The project is expected to be completed by 2025.

Jizan Economic City worth $30 billion, Jeddah Project Mile High Tower with $10 billion and the Kingdom Holding Company is designing a 1,600 metres skyscraper to form part of the Jeddah project, north of the city.

Shamieh project includes Makkah project worth $9.3 billion and includes residential apartments, commercial centres, hotels, schools, mosques, hospitals and related facilities, car parks and transport corridors to carry pilgrims razi syed.