Malaysian-based Renexus Group, one of the most valuable Green Technology Lifestyle Developers in Asia, has partnered with Punjab Board of Investment and Trade (PBIT) to plan multi-disciplinary projects in Punjab from medium and low-cost housing, waste management system and an information communication technology (ICT) investment in Wimax.
According to a PBIT's spokesman here on Tuesday, the delegation from Renexus Group has concluded its exploratory visit to Punjab with an interest in launching a mass investment plan in the near future. Consultant to the Chief Minster Punjab on Economic Affairs and Vice Chairman/PBIT CEO Pir Saad Ahsanuddin while talking to the delegation said such investment plans need to be materialised by involving all stakeholders from relevant government departments and matchmaking with existing private sector parties.
Pir Saad further said the PBIT has taken up many such investment plans with leading business groups with the commitment to facilitate projects that impact development of infrastructure in Punjab and promote cutting-edge technology from around the world.
Appreciating the facilitation provided by PBIT, the delegation announced that the company will build 160,000 homes in Pakistan and will roll out the process in record time to meet the growing demand for low and medium sized housing in the country.
Renexus has also submitted a formal proposal to government for the construction of 20,000 low-cost houses in each of the eight major towns (Lahore, Rawalpindi, Multan, Bahawalpur, Faisalabad, Sargodha, Gujaranwala and Sialkot). Quality houses would be built through private sector participation and financial institutions. Pir Saad asked investors to look toward high growth areas such as housing, communication and waste management in Punjab for exponential returns on investment.
Meanwhile a delegation from Turkey called on Pir Saad to finalise arrangements for the follow-up visit of the Prime Minister of Turkey on March 31. This visit will once again solidify over $600 million investment plans that Turkey has initiated in Punjab. PBIT will launch a more exclusive business-to-business meeting between investors from both countries to enhance their export and investment potential.