Nepal Prime Minister KP Sharma Oli laid the foundation stone for the country’s largest industrial park located in Jhapa district.

Damak Clean Industrial Park, a Nepali partner for the joint venture along with Lhasa Economic and Technological Development Zone Investment Development Co. Ltd and Jing Ping Joint Creation Construction Project Development Co. Ltd from China are working on the project, reports Xinhua news agency.

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According to plan, the China-Nepal Friendship Industrial Park is expected to host enterprises of producing white goods, transportation equipment, and textile and garments and food processing, among others.

A total of 192 small, medium-sized and large factories are expected to be set up inside the Nepal-China Friendship Industrial Park in the first phase.

According to the Prime Minister, a significant portion of the industrial park will be developed in the next two years and around 45,000 people are expected to be employed during the first two years of the development phase.

“Infrastructure development is expected to be completed in the next five years employing tens of thousands of people,” he said d uring the foundation stone laying ceremony on Sunday.

“Modern industries will be set up inside the park helping the country’s industrialization.”

During the ceremony, the Himalayan nation’s Industry Minister Lekh Raj Bhatta said the development of China-Nepal Friendship Industrial Park is part of the Kathmandu government’s industrialisation drive, and that it will help the country achieve economic prosperity.

Govinda Thapa, president of Damak Clean Industrial Park, told Xinhua last week that all the preparatory works have been completed to start construction work in the project.