The first phase of Challenge Special Economic Zone (SEZ) Lahore has reached financial close after securing financing from a consortium of banks and financial institutions, paving the way for construction and development of the industrial project.
The financing agreements were signed at a ceremony held at the Prime Minister’s Office, attended by Federal Minister for Planning Ahsan Iqbal and Special Assistant to the Prime Minister Haroon Akhtar Khan.
The project is being developed by Challenge Fashion (Private) Limited, while the financing consortium includes The Bank of Punjab, Pak China Investment Company Limited, Habib Metropolitan Bank Limited, Bank of Khyber, BankIslami Pakistan Limited, and Pak Libya Holding Company Limited.
Officials said achieving financial close marks a major milestone for the project, as all key financing arrangements have now been completed, allowing work on the first phase to move forward.
Speaking at the signing ceremony, Ahsan Iqbal said Pakistan and China continue to expand their economic cooperation, adding that investment by Chinese companies in Pakistan has been growing. Haroon Akhtar described the completion of the financing process as an important step towards the project’s implementation.
Challenge SEZ Lahore is being developed as an export-focused industrial zone aimed at attracting local and foreign investment, expanding manufacturing capacity, strengthening industrial supply chains, promoting technology transfer, and generating employment.
The project is expected to support Pakistan’s industrial sector by providing dedicated infrastructure for export-oriented industries and facilitating new manufacturing investments.
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