Chinese companies to invest $8bn in Ravi City Project

ISLAMABAD: Prime Minister Imran Khan was on Thursday told that the Chinese government and companies were keen to invest $ 3 billion in the Ravi City project in Lahore and that the investment did not include any kind of loan.

Besides, he was informed, that ANGCC -a Global Investment Consortium, had also offered to invest $ 5 billion in the project on partnership basis.

The prime minister, who was presiding over a meeting of the working group of Ravi Riverfront Urban Development Authority (RUDA) and Pakistan Islands Development Authority (PIDA), was told that in order to further speed up the progress on the Ravi City project, a board had been constituted and work on the project would start in January.

The meeting was attended by Minister for Information and Broadcasting Senator Shibli Faraz, Minister for Maritime Affairs Syed Ali Haider Zaidi, Special Assistant to the PM on Political Communication Dr Shehbaz Gill, Naya Pakistan Housing Authority (NPHA) Chairman Lt Gen. (r) Anwar Ali Haider and Deputy Chairman Maj-Gen Ameer Aslam Khan (retd), and Pakistan Islands Development Authority Chairman Imran Ameen.

Sindh Governor Imran Ismail, Advisor to the Punjab Chief Minister Dr Salman Shah, Special Assistant to the Punjab CM Dr Firdous Ashiq Awan, RUDA Chairman Rashid Aziz, Punjab chief secretary and senior officers concerned also attended the meeting through video link.

The prime minister stressed that Ravi City, being an unprecedented and first of its kind mega project, would address the increasing problems of Lahore.

Its completion would not only provide the facilities of potable water, appropriate sewerage, clean environment and modern housing to the citizens of Lahore, but also help create job opportunities and develop local and national economy, particularly the industries through huge foreign investment.

About Pakistan Islands Development Authority, the prime minister was told that the environmental and master plan studies would start in January.

Besides, he was told that in partnership with the non-governmental organizations (NGOs) a programme was being formulated to ensure employment of fishermen related with the Islands and for the protection of maritime habitat.

Imran Khan, while expressing his satisfaction over the progress made on the Bundle Islands, stressed that all stakeholders would be taken on board for the success of the project.