Pakistan Receives a $76.28 million Loan from Korea to Build IT park

The government of Pakistan has secured a $76.28 million loan from the Republic of Korea to establish an Information Technology Park in Islamabad.

The Ministry of Information Technology and Telecommunications has confirmed that the government of Pakistan has received a $76.28 million loan from the Export-Import Bank of Korea from the Economic Development Cooperation Fund (EDCF) of the Republic of Korea to help fund the establishment of the IT Park Project in Islamabad, and that it plans to put a portion of the proceeds to good use.

The Project Executing Agency (PEA), the Ministry of Information Technology and Telecom, has invited bids from qualified bidders for the construction of the (IT Park Islamabad) Technology Park, Islamabad, as well as the supply, installation, and commissioning of ICT infrastructure and security equipment. The following are the tasks and purchases that will be completed for this project:

  • IT Park building construction – ten (10) floors above ground and two (2) basements with a gross floor area of 66,893.643 m2;
  • Offices, shared rooms (conference rooms, data centres, and so on), amenities, backup power, and parking area
  • Installation and commissioning of the ICT infrastructure and security system
    Building network, tier-iii data centre, mis, wifi, PA system, video conferencing system, and so on are all examples of ICT infrastructure. – security system, which includes fence security, human and vehicle control systems, CCTV, and other features.

The expected duration of the work and procurement is 30 months.

Bidding will take place using the competitive bidding (single stage two envelope based) approach outlined in the procurement guideline for EDCF loans.
During the construction phase, the Islamabad IT Project is planned to provide approximately 5,000 direct and indirect jobs, with an additional 15000 jobs for IT specialists, students, and industry workers after it is completed.

Source: ProPakistani