ISLAMABAD     -  Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq Wednesday said about Rs2.5 billion have been allocated for the development projects of state of the art M-3 Industrial City. This decision was taken at a board meeting chaired by him here in which it was also decided that on the pattern of Faisalabad Express, another new road from Sahianwala to Chiniot will be constructed to get easy access to Special Economic Zone (SEZ)," says a press release issued here. Besides this, Chairman FIEDMC also approved to build two new grid stations to generate 40 megawatt electricity for M-3 Industrial City and the meeting also gave go ahead for Safe City Project to protect lives and properties of the investors and industrialists.

The meeting also reviewed the progress of ongoing development projects of Allama Iqbal Industrial City and the approval was also given for the initial constructing of 20 megawatt grid station for provision of electricity to this industrial city. Mian Kashif Ashfaq on this occasion said FIEDMC had received encouraging response from investors and a few international companies had also signed memoranda of understanding (MOUs) for injecting capital into the SEZ. He was of the view that the industrial city would attract millions of dollars in foreign direct investment.