ISLAMABAD: A Pak-China Science, Technology, Commerce and Logistic Park will be established in Islamabad at a cost of $ 1.5 billion.
Giving details of the project at a news briefing here on Tuesday, Minister for Science and Technology Rana Tanveer Hussain said it would be set up as part of China-Pakistan Economic Corridor.
It would serve as a platform for technological and commercial linkages between Pakistan and China besides promoting investment and financing, e-commerce and research and development.
The Minister said that Pakistan would provide 500 hectares of land for establishment of the Park and all other investment would be made by China. He said three sites have tentatively been identified and a delegation of Xinjiang Production and Construction Corporation is arriving this month for finalization of the site. He said foundation stone of the project is expected to be laid in March next year and it would be completed in ten years in three phases.