Parsa, May 6 -- Industrial activity at the Special Economic Zone (SEZ) in Simara has picked up sharply after the federal government reduced land rent in this year's budget speech, drawing a wave of new investment.

The government lowered the rent from Rs20 per square metre to Rs5 per square metre, a move that has led to nearly a dozen industries now being built within the SEZ area. More than half of these projects involve Indian and Chinese investors.

According to SEZ site in-charge engineer Pappu Giri, Nepovit Ceramics Pvt Ltd is under construction as a joint venture between India's AGL Group and Nepali investors. The Rs5 billion project will produce tiles and sanitary ware.

South Korean investors are developing an industry which will ...