Lahore: According to a news source, the Ravi Urban Development Authority (RUDA) has succeeded in making over 8 billion US Dollars in foreign investments for the Ravi Riverfront Urban Development project (RRUD).
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This information was revealed by Iftikhar Ali Malik, one of the members of RUDA, over a summit with a delegation of builders and developers. The conference was jointly chaired by Zain Zubair Khalid Mirza and Shehroz Hassan.
According to Mr. Iftikhar, the Chinese government and other firms have expressed their willingness to initially invest 3 billion US Dollars in the RRUD project and that this sum includes all sorts of loans.
Reportedly, two other Chinese firms, China Road and Bridging Company (CRBC) and the China Gezhouba Group Company Limited (CGGC), have already signed MoUs with RUDA for multi-billion-dollar investment for this riverfront project. These two firms have already successfully executed several other infrastructure projects in Pakistan.
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