A reputed Malaysian Company, Landesign Group Sendirian, has shown interest in making investment in major projects of mass transit and operating CNG buses in Karachi on BOT basis.
The Company's Managing Director, Haji Usman Bin Yusuf, who was leading a delegation, met City Nazim Mustafa Kamal here on Monday and noting that Karachi had been included in the world's beautiful cities after completion of mega projects in Karachi in a very short period. They also want to join the ongoing development process.
He said that under city government's public-private partnership policy, they were planing to participate in major development projects.
Addressing the Malaysian investors, Mustafa Kamal said that vast opportunities exist for investment in mass transit and public transport, particularly CNG buses and Malaysian companies could make profitable ventures owning to their experiences and investment.
He told the delegation that city government wanted to streamline city's mass transit system on modern lines and this objective could be achieved with the cooperation of private sector.
He informed that the city government decided to pay off interest on loans obtained for CNG buses to help out the investors.
Mustafa Kamal expressed his determination of making Karachi world's most modern and developed city and said mega projects in this regard were completed in just one and a half-year. These included three flyovers and three under-passes, completed in just eight months for a signal free corridor.
He informed the delegation about projects of 28 Km long elevated expressway and 47-storeyd IT tower whose ground breaking ceremony will be held this month.
He told the delegation that their company can enter into agreement in respect of transport, low cost housing and mega projects under public-private partnership.
Nazim Karachi pointed out that vast room exists to work in the transport sector in this city of 18 million and the company would be able get significant revenue from this sector.
Assuring that operation of CNG buses would be fully encouraged, he informed that a modern bus terminal has been constructed and more such projects will be completed including the shifting of truck stand.