Foreign firm to prepare report on RR investment guidelines

The foreign investment in 10 industrial zones in Ring Road project would be done under a public-private partnership

RAWALPINDI:

The government has opened doors for foreign investment in 10 industrial, education and health zones part of the Rawalpindi Ring Road. The foreign ministry and board of investment have already given their approval.

The foreign investment in 10 industrial zones in the Ring Road project would be done under a public-private partnership, confirmed Rawalpindi Development Authority (RDA) Chairman Tariq Murtaza while talking to The Express Tribune on Saturday.

He said Singaporean firm Subarana was conducting a study to prepare easy and explicit guidelines for foreign investment.

The RDA chairman added that international tenders for this purpose have been issued while prequalification of local and international firms along with technical and financial working would be completed by April 12.

Murtaza said the process of payment of compensation to owners of the land on the 60-kilometres route had been expedited too. He added that five kilometres of it were owned by the Capital Development Authority (CDA).

"The will would start the land acquisition process this month," Murtaza said.

The official added that the date of the project's groundbreaking would be finalised within two months with the input of all stakeholders.

Murtaza said Prime Minister Imran Khan would lay the foundation of the mega project and a big gathering on the occasion would be organised.

Published in The Express Tribune, March 21^st, 2021.