PASDEC to fetch foreign investment in marble sector
ISLAMABAD: Pakistan Stone Development Company (PASDEC) will participate in ‘Pakistan Investment Conference’ to attract foreign investment in marble and granite sector of Pakistan.
The conference would be held in Islamabad on November 4 and 5. More than 300 prominent foreign and local investors, businessmen, decision makers and experts would be present at the conference.
Besides business meeting with investors, PASDEC would also exhibit marble and granite and marble mosaic products in the conference. Marble and granite is an emerging and promising sector of Pakistan, which has huge potential of investment, export and increasing livelihood.
According to a PASDEC spokesman, “Pakistan is blessed with enormous reserves of marble, granite and onyx in wide range of colors, shades and patterns. PASDEC has introduced mechanized quarrying with state of the art machines to transform the sector into dimensional stone industry. The objective is to extract international standard square blocks to discriminate blasting and to reduce wastage of natural stones. The annual export quantum of marble and granite has increased up to $127 million while it was about $40 million during 2007-2008.”
He said apart from modern quarrying, PASDEC is also establishing five marble cities and industrial estates in FATA, Risalpur, Chitral, Loralai and Islamabad, adding that these projects would be set-up under the international business and industry standards. “These marble cities have tremendous investment and growth potential for entrepreneurs based on high end stone technology industrial estates, custom facilities, and state of the art services combined to create the largest and most technologically advanced industrial park for dimension stone industry in Pakistan,” he added.
He said substantial infrastructure and development works have been completed and balance work is progressively expediting at Mohmand Marble City in FATA and Marble City Risalpur.