South Korea loans $76.28m to build IT Park in Islamabad

The Government of Pakistan has received a generous loan of more than $76 million from the Republic of Korea for the establishment of an Information Technology Park project in the nation’s capital.

The Ministry of Information Technology and Telecommunication (MoITT) has confirmed that the government has received a loan of $76.28 million from the Export-Import Bank of Korea from the resources of the Economic Development Cooperation Fund (EDCF) of the Republic of Korea towards the cost of the establishment of the IT Park project in Islamabad.

The MoITT, which is the Project Executing Agency (PEA), has invited bids from eligible bidders for the construction of the Information Technology Park, Islamabad with supplying, installation and commissioning of ICT infrastructure & security equipment.

The following points give a breakdown of the work and procurement to be performed in this project:

->Construction of IT Park building – ten [10] stories above ground and two [2] basements building with a gross floor area of 66,893.643 m2

->Offices, share rooms (conference rooms, data centers, and etc.), amenities, backup power, and parking area

->Implementation of ICT infrastructure & security system and commissioning

->ICT infrastructure: building network, data center tier-iii, mis, wifi, pa system, video conference system, etc. – security system: fence security, human and vehicle control system, CCTV, etc

The estimated period for work and procurement is 30 months.

The Islamabad IT Project is expected to provide over five thousand direct and indirect employment opportunities during the construction phase and about 15000 employment opportunities to IT experts, students, and persons concerning industry after its completion.