The Ravi Riverfront Urban Development Project has attracted more than $8 billion in foreign investment over a short period of time to build a new Dubai-style area.
After meeting a delegation of builders and developers jointly led by Zain Zubair Khalid Mirza and Shehroz Hassan, Ravi Urban Development Authority (RUDA) Member Iftikhar Ali Malik disclosed this.
Initially, the Chinese government and businesses were willing to invest $3 billion in this mega-project, which does not include any form of loan. On a collaboration basis, ANGCC, a multinational investment consortium, has also proposed to invest $5 billion.
Malik also urged local shareholders to take advantage of the opportunity and play their proper role. Chaudhry Khalid Pervaiz, Ahmad Waqar, Kamran Shafique Chaudhry, Imran Mughal, Athar Aziz, Dawood Khalid, Junaid Iftikhar, Atiqur Rehman and Azeem Pervaiz were additional members of the builders’ delegation.
He further stated, “Prime Minister Imran Khan is globally well-known and his personality matters, which is why a number of foreign investors have placed their full trust in the historic package of incentives offered to investors by the PTI government.”
Two other Chinese firms, China Road and Bridging Company (CRBC), a 4C conglomerate member company, and China Gezhouba Group Company Limited (CGGC), have also inked RUDA MoUs for multi-billion-dollar investment in a nationally significant project. The RUDA member said both Chinese companies were already successfully engaged in the execution of different infrastructure projects in Pakistan.
