KARACHI: The National Industrial Parks Development and Management Company (NIP) plans introducing the most modernised concept of high rise industrial complex at the Korangi Creek Industrial Park (KCIP).

Referred to as flatted factories, the concept is considered an ideal solution to urban industrialisation programme.

CEO Mohisn Syed of the NIP talking to Dawn said that though the cost of one acre at the KCIP had risen to Rs29 million from Rs25m during the last five months but it was still cheaper than the land in other industrial estates.

The price hike, he said, was due to an increase in development cost because of a surge in the rates of construction material.

Construction at the KCIP began in 2004-05 but the NIP did not increase the prices, he claimed.

The NIP, he said, had earned Rs1.70 billion after disposing of some 80 per cent of land to multinational and local companies.

The idea of flatted factory actually originated from Hong Kong. Factory buildings situated near urban areas prove a big success due to access to labour and easy transportation, he remarked.

Flatted factories are high-rise multi-tenanted developments with common facilities of passenger and cargo lifts, loading and unloading bays and car parks he said adding offices currently available in high-rise commercial complexes were mostly unoccupied because of security concerns.

The NIP, to ensure security to businesses against ‘bhatta mafia’ will fully develop the KCIP as a very few businessmen had relocated to foreign land with majority succumbing before these elements, Mr Syed said. Many still want to continue their trade in Karachi despite lawlessness.

Both national and multi-national entrepreneurs are willing to setup their offices in the commercial capital of the country provided they secured space at a place which was out of the reach of bhatta mafia, he said.

The NIP will establish a foolproof security system in its industrial parks in collaboration with NADRA which has developed a software ‘verisys’ for verification of the CNICs. This, he hoped, would curb fraudulent activities. It being a highly secured biometric attendance system logs each and every entry and exit, and the web can also be reviewed by the management.

The NIP has also decided to install a dedicated electronic security system whose primary functions would involve electronic entry-control, intrusion-detection, and a closed-circuit television (CCTV).