LAHORE: Chinese investors are being persuaded to invest in 13 mega projects worth $3.4 billion the Punjab government and the Lahore Development Authority (LDA) propose to launch in Lahore in the near future.

A high-level Punjab government delegation headed by Chief Minister Shahbaz Sharif is currently visiting China to woo investors.

According to documents, the proposed projects under public-private partnership include a $2.2 billion multi-storey housing scheme on Wahdat Road, $62 million LDA tower on Jail Road, $45 million office building at old planning and development office, $380 million Finance and Trade Centre (FTC) in Johar Town with a $20 million amusement park, $120 million redevelopment of camp jail site on Ferozepur Road, $56 million shopping mall at the Rescue 1122 site on Ferozepur Road, $208 million multi-storey housing apartments on a road linking Canal Road, construction of Sharaqpur bypass worth $55 million, $38 million southern bypass, $19 million Defence Road flyover, $114 million GT Road expressway and $85 million eastern bypass.

Chinese financiers are also being motivated to invest in various components of the River Ravi Development Project, which is being estimated to cost over $7 billion.

The multi-storey housing project has been proposed at the available chunk of 254 acres, including multi-storey residential and commercial blocks on 925 kanals, recreational area on 290 kanals, and roads, parking area, mosques and school on 817 kanals.

The LDA tower is being planned on over 11 kanals. It will have 47 floors, five parking basements, shops, offices, service floors and restaurants. Construction of an office building at the old planning and development office would be constructed on over 30 kanals and have nine floors to meet shortage of government offices.

The FTC in Johar Town would have shopping malls, departmental stores, corporate offices, LDA commercial complex, food court and amusement park. The project regarding redevelopment of camp jail site would be launched on 238 kanals. It would include construction of a modern high-rise retail tower and commercial zone as well as a state-of-the-art parking area.

A shopping mall is also being planned on 65 kanals currently being used by Rescue 1122 authorities. Multi-storey housing apartments are being proposed on over 240 kanals being used currently by the Building and Road Research Lab on Canal Road.

According to the documents, construction of a bypass from Defence Road to Sharaqpur (linking Multan Road) is likely to reduce 35 kilometres of the distance between Lahore and Sharaqpur. It will be a three-lane dual carriageway and have a 1.5km overhead bridge at river Ravi.

A planned southern bypass to link Ferozepur Road with Multan Road and onward would also be a three-lane dual carriageway. It would have a 1.5km overhead bridge at the river Ravi. The construction of a flyover at railway crossing on Defence Road would be 1.5km long and have a two-lane dual carriageway. Construction of GT Road from Shahdara to Kala Shah Kaku and eastern bypass would also be three-lane dual carriageways, according to the documents.

Officials say the aforementioned projects are not limited to be launched in partnership with Chinese investors alone. Investors from Turkey, South Korea, the US and the UK may show their expression of interest also.

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