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Dubai Company to Invest in Ravi Riverfront Project

By 01/12/2021 March 25th, 2022 0 Comments

The Ravi Urban Development Authority (RUDA) has signed a Memorandum of Understanding (MoU) with a Dubai-based company for the establishment of an environment-friendly scheme in Pakistan’s first high-tech city. The project is named as Ravi Riverfront Urban Development Project (RRUDP). Under the MoU, the company has agreed to invest $500 million in the project.

RUDA intends to develop urban areas of the province into a sustainable, livable, and well-managed engine of economic growth. The Ravi Riverfront Urban Development Project aims to develop a new city on the banks of river Ravi. The project, spanning over 40,000 hectares along with the river Ravi, envisions a modern city with 12 sectors (residential, mixed-use, commercial, financial, innovation, medical, knowledge, sports, downtown, tourism, and urban farm). The development of this project is expected to accommodate around 35 million residents. The RRUDP also considers setting up wastewater treatment plants. Seven treatment plants are proposed to be set up at the outfalls of the Ravi River.

Recently, two Chinese companies had also signed MoUs for multibillion dollars investment in Ravi Urban Development Project and showed interest in carrying out the major infrastructure of river works such as Diamer-Bhasha Dam project.

The RRUDP will attract local and foreign investment and also help to resolve water scarcity issues in Lahore and surrounding areas. With the development of this project, the city will have more agricultural land and urban forests will add a natural habitat and offers a fresh and green environment.

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