The Government of Punjab and a leading European consortium led by a Dutch Company, ABS Nederland Bv signed a memorandum of understanding (MOU) to establish a state of the art university town in the province.
On behalf of the Punjab Government, consultant to Chief Minister on Economic Affairs and Vice Chairman Punjab Board of Investment and Trade (PBIT), Pir Saad Ahsanuddin signed the MOU while Executive Director Finance Bauck Boersma represented the ABS Nederland Bv, The MOU was signed at the PBIT office.
The mega project is the first of its kind in Punjab stretching to 7,500 acres with health and engineering universities affiliated with European institutions and over 30,000 housing units.
Pir Saad while giving details in this regard said that this 310 million US $ project will have a tremendous impact on thousands of people in Punjab as it will not only offer subsidized access to world-class health and engineering education but also establish sustainable agricultural practices through modern farming techniques and an economic opportunity zone.
He further told that this mega project would be built on a futurist energy self-generation component and includes a detailed phase 2 plan of a sophisticated windmill turbine farm.
Pir Saad informed that this project is a significant milestone in Punjab’s Foreign Direct Investment (FDI) targets after new trade liberalization policies by the Chief Minister Punjab, Mian Muhmmad Shahbaz Sharif and priority projects such as the University Town will provide employment to thousands and uplift auxiliary industry around the city in the coming years. Speaking on this occasion Bauck Boersma from ABS Nederland Bv, said that their company has come to Pakistan to work together for socio-economic development projects.
Punjab Board of Investment and Trade (PBIT) has been lauded by donor agencies for significantly expediting the regulatory procedures required to take this infrastructure development and social development project off the ground.
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