FAISALABAD, Oct 11: A Dutch firm will invest $35 million to build homes for the shelterless, introduce modern urban transport and construct a trade centre in the city.

Speaking at a news conference, Jacob and Associates South Asian Region director ZA Malike said that houses would be provided to the shelterless without charging any mark-up.

He said only eight per cent per annum administrative cost on due amount would be charged.

A fleet of 160 buses would be arranged for providing modern and cheap transport facilities to the people. After five years, he said, 46 buses would be donated to the district government.

He said that concession in fares would be offered to students and government employees on all routes.

Mr Malike said an amount of $16 million would be required to build a 15-storey trade centre outside Aminpur Bazaar with a parking facility of over 2,500 vehicles. This would be a joint venture and 30 per cent profit share would go to the district government while the rest to Jacob Associates, he said.

To a question, he said the district government had already assured its full cooperation, and work on the projects would be started within next couple of months.