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China Shows Interest in Investing Billions in the Ravi Riverfront Project

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Now Reading: China Shows Interest in Investing Billions in the Ravi Riverfront Project

On Thursday, it came to the knowledge of Prime Minister Imran Khan told that the Chinese government and companies were interested in investing billions of dollars in the Ravi City project in Lahore. This information was revealed to him in a meeting of the RUD and it was told that the $3 Billion investment did not include any loan. Moreover, he was informed that ANGCC – a Global Investment Consortium – had also offered to invest $5 billion in the project on partnership basis.

PM Khan was presiding over a meeting of the working group of Ravi Riverfront Urban Development Authority (RUDA) and Pakistan Islands Development Authority (PIDA), in which he was told that in order to increase the speed of the Ravi City Project’s progress, a board had been constituted. Reportedly, the work on the project would start in January.

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. ® Anwar Ali Haider and Deputy Chairman Maj Gen ® Ameer Aslam Khan attended the meeting, along with Pakistan Islands Development Authority – Chairman Imran Ameen.

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

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About Pakistan Islands Development Authority, the prime minister was told that the environmental and master plan studies would be starting in January. Besides, he was told that a programme was being formulated to ensure employment of fishermen related with the Islands and for the protection of maritime habitat. This will be happening in partnership with the non-governmental organizations (NGOs).

What is the Ravi Riverfront Project?

The Ravi Riverfront Urban development Project is one of its kind. The project includes the construction of a planned city that stretches over 100000 acres. It will be the largest riverfront IN THE WORLD after completion. PM Imran Khan inaugurated the Ravi City project on 7th of August this year. This mega project is reportedly going to reach completion in three phases.

The idea of urban development on the Ravi riverfront first came to light way back in 1947 by the Deputy Commissioner of Lahore .The government of Punjab began considering it and was planned to span over 44000 Acre in 2013. In 2014 though, Lahore Development Authority hired an Asia engineering company named Meinhardt to run a feasibility study for this project.

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Being worth 5 trillion rupees worth, this project aims to rehabilitate and develop the Ravi River into a forever-lasting freshwater body with high-quality urban development on the adjoining land for about 35 million individuals. A vast lake, a forest, three barrages, and six water treatment plants are planned to be built here.

A modern city on the bank of the Ravi Raver, bordering Lahore on the north and west sides consisting of green belts, piers, and boardwalks along with 1.4 million residential units are included in this mega project. Being an unprecedented and first of its kind mega project, it would address the increasing problems of Lahore like unavailability of freshwater water, sewerage issues and smoke and another kind of pollution have made the city ugly

As for the aforementioned meeting, in it, 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 this project that will help create job opportunities and develop local and national economy, particularly the industries through huge foreign investment.

 

Read also: Government to Impose New Tax on Cars to Fight “Own Money” Challenge

 

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