Lahore: The Ravi Urban Development Authority (RUDA) has reportedly succeeded in generating over USD 8 billion in foreign investments for the Ravi Riverfront Urban Development (RRUD) project, according to a news source published on January 19.
RUDA member Iftikhar Ali Malik revealed the information during his meeting with a delegation of builders and developers. The said session was jointly chaired by Zain Zubair Khalid Mirza and Shehroz Hassan.
Malik said that the Chinese government and firms had expressed their willingness to initially invest USD 3 billion in the RRUD project and that this sum includes all sorts of loans. In addition, ANGCC – Global Investment Consortium – has offered a generous investment of USD 5 billion on a partnership basis.
Reportedly, two other Chinese firms – China Road and Bridging Company (CRBC) and the China Gezhouba Group Company Limited (CGGC) – have already signed memorandums of understanding (MoUs) with RUDA for multi-billion-dollar investment for this riverfront project. These two firms have already successfully executed several infrastructure projects in Pakistan.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
