LAHORE: An ambitious Ravi Riverfront Urban Development project in a short span of time attracted over $8 billion foreign investment. Iftikhar Ali Malik, President SAARC Chamber who is also member Ravi Urban Development Authority (RUDA) told a delegation of builders and developers jointly led by Zain Zubair Khalid Mirza and Shehroz Hassan said that after completion it will be the largest riverfront modern city of the world. He said that Chinese government and companies were keen to invest initially $3 billion in this mega project which did not include any kind of loan.
He said ANGCC - a global investment consortium has also offered to invest $5billion on partnership basis. He said that another two Chinese companies, China Road and Bridging Company (CRBC) a member company of 4C conglomerate from China and Gezhouba Group Company Ltd ( CGGC) have also inked MOUs with RUDA for multi billion dollar investment in this project of national importance.
Iftikhar Ali Malik said the Ravi City being an unprecedented and first of its kind gigantic project would address the ever increasing multiple problems of Lahore whose population is crossing 110 million. He said that local investors must avail investment opportunity from this project and play their role in nation building.
Copyright Business Recorder, 2021