Prime Minister Imran Khan on Wednesday directed relevant authorities to make speedy progress on Ravi Riverfront Project.
The PM ordered speedy work on Ravi Riverfront Urban Development project after a club comprising global firms, ANGCC, offered investment worth $5 billion. Moreover, the Chinese government and other companies decided for making an investment of $3 billion.
The officials notified PM in a meeting of Ravi Riverfront Urban Development Authority (RUDA) and Pakistan Islands Development Authority (PIDA).Meeting was held about the expected investment worth $8 billion by a number of global companies in the Ravi Riverfront project.
It had emerged that $3 billion investment will not include any genre of loan. Moreover, the officials told PM that they have developed a board to start development work from January 2021.
PM Imran said that the project will be the biggest and unique in its kinds. Furthermore, it will attract foreign investors besides creating opportunities for employment in the country.
Earlier in September, he had laid the foundation stone of Ravi Riverfront Urban Development project. In addition, he planted a sapling.
PM Imran said that the pace of construction of multi-billion project possesses importance. Furthermore, he added the federal government will give maximum help for removing all barriers in the urban development project.
The Government will complete the project with the coordination of the private sector. Whereas, the Punjab government will complete its infrastructure. The country will witness huge foreign investment through the project.
COST ESTIMATION OF RAVI RIVERFRONT PROJECT
Further, according to the document, authorities expect water and waste treatment plants to cost PKR 80 billion. However, metro bus and other transport networks including consultancy will cost PKR 172 billion. In addition, the development charges for the new city itself that will be located at the riverfront have been estimated to be PKR 415 billion.
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