LAHORE: Pakistan Muslim League N (PML-N) Punjab’s government has inked another Memorandum of Understanding with Chinese firm.
According to TheNewsTribe’s correspondent from Pakistan’s second largest city Lahore, the MoU regarding construction of Western Loop of the Ring Road Lahore was signed between Punjab government and international Chinese company, China Civil Engineering Construction Corporation.
Chairman Ring Road Authority and Director Overseas Corporation of China Civil Engineering Construction Corporation signed the document. Punjab Chief Minister Muhammad Shahbaz Sharif, Provincial Minister for Housing, Chief Secretary, Chairman Planning & Development, Secretary Communication & Works, Director General LDA, Chairman Ring Road Authority and concerned officers were present. Under the agreement, China Civil Engineering Construction Corporation will take part in the bidding process of construction of 26-kilometer long portion of Ring Road from Multan Road Maraka to Niazi Interchange which has been named as Western Loop.
Besides, provision of experts, China Civil Engineering Construction Corporation will also plan and designed the project.
Addressing the signing ceremony of the MoU, Chief Minister Muhammad Shahbaz Sharif said that there is vast scope of investment in energy, infrastructure and other sectors in Pakistan especially Punjab.
He said that provincial government is providing special incentives and facilities to foreign investors for investment in the province.
Shahbaz Sharif has that the goal of strengthening of national economy cannot be achieved without development of infrastructure.
“Punjab government has allocated a huge amount for communication and works sector under annual development programme.”
CM Punjab said that Lahore Ring Road will be completed under a phased programme in accordance with international standard and in the next phase, the Western Loop from Multan Road Maraka to Niazi Interchange will be constructed.
The Chief Minister said that the cooperation of Chinese investors in various sectors in Pakistan is highly appreciable.
Speaking on the occasion, the officials and experts of China Civil Engineering Construction Corporation observed that China and Pakistan are bound together in strong bonds of friendship.
They also expressed their interest in investment in ring road project, mono rail and metro project in Punjab.
They expressed their satisfaction that a favourable investment climate exists in Punjab.
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