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Discussion Starter · #1 · (Edited)
Number of storey: Multistory highrise tower
Size of Plot: 6 Acres
Location : EPZA
Cost : 100 million dollars

Tech Tower project in EPZA

MUSHTAQ GHUMMAN
ISLAMABAD (June 06 2009): Economic Co-ordination Committee (ECC) has reportedly refused to give free hand to Industries Ministry for provision of incentives to an Australian company, Progressive International Party Limited, which will establish Export Processing Zone Authority (EPZA) Tech Tower in Karachi, official sources told Business Recorder on Friday.

On May 19, the ECC was informed that the EPZA carried out a survey and found that the information technology (IT) sector's growth had been constrained due to non-availability of quality business, space and infrastructure. To accelerate growth in this sector, the authority was of the opinion that development of necessary infrastructure would help and space could be developed on the basis of build, operate and transfer (BOT) arrangements.

The sponsor company will design, plan, construct, market and operate as space provider on the basis of charging rentals till the end of 50 years of concession period. In return, the company will share 10 percent of rentals with the EPZA. The developed assets will revert to the EPZA on the expiry of the concession period.

Accordingly, an advertisement was published in the national and international press, offering land with the EPZA incentives and conditions. In response, Progressive International Party Ltd of Australia submitted a responsive proposal.

It is further elaborated that the proposed scheme would be an integral part of the EPZA and be treated as a "stand-alone" unit for operational and financial controls and monitoring. The authority, therefore, proposed that six acres of land free of cost/rent sharing basis for a period of 50 years be granted to them and allowed all permissible EPZA incentives for establishment of EPZA Tech Tower Project.

The ECC considered the proposal, submitted by Progressive International Party Ltd, and observed that initially the company should be advised to start construction of the technology tower and after that the proposal of further extension in lease would be considered.

It was further suggested that initially the company be provided land for a period of five years and they should be directed to start construction work at the site. It was also stated that the final lease agreement and taxes/duties exemption package would be brought before the ECC after five years.

The sources said it had been decided that six acres of land would be provided to the firm free of cost/rent sharing basis for a period of 50 years and allow all permissible EPZA incentives to Progressive International Party for establishment of EPZA Tech Tower Project.

The ECC also decided that the investor might be allowed five years to complete the project, failing which the agreement would stand automatically cancelled. The sources said the final lease agreement along with taxes/duties exemption package would be presented before the ECC for approval.

http://www.brecorder.com/index.php?id=920261&currPageNo=1&query=&search=&term=&supDate=
 

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Discussion Starter · #2 ·
The Daily Times is running a story on the EPZA’s efforts to augment IT infrastructure in Pakistan. The export processing zone authority (EPZA) has launched a 6.5 acre facility in Karachi specifically for use by export oriented software companies. This comes at the heels of the software park developments taking place in both Islamabad and Lahore. During a recent visit by a PASHA (Pakistan Association of Software Houses) delegation, the management of the new park explained that an optic fiber network, uninterrupted power and discounted electricity were amongst some of the incentives the EPZA was offering.

Software exporters visit EPZA IT Park site

KARACHI: A 17-member delegation of Pakistan Software Houses Association (PASHA) visited Export Processing Zones Authority (EPZA) to learn about incentives being offered at the proposed IT Park at KEPZ Phase-II which has reserved land of 6 ½ acres exclusively for the IT companies.

EPZA Chairman Kamran Mirza gave an overview of the zone and explained the details of the incentives to the delegation, lead by PASHA President Ashraf Kapadia

Mr. Kamran said, the incentives currently being provided to investors include; developed land, cheaper electricity, optic fiber network, uninterrupted electricity, abundant water and gas supply, no restrictions on foreign currency movement through offshore banks and duty free import of all goods.

Mr. Kapadia said that the offer made by EPZA to PASHA members is quite impressive and our members would seriously consider this offer individually and collectively on PASHA’s forum. staff report

http://techlahore.wordpress.com/2007/11/27/epza-launches-65-acre-software-park-in-karachi/
 

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Discussion Starter · #4 ·
100 million dollars. How tall is it gonna be? I expect a decent height (and also a decent design).
The Austrailian company is yet to reveal the design project, but of course with 100 million dollars project cost excluding the cost of land which will be provided on rent basis by EPZA this is going to be a decent size high rise building.
 
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