Lahore: Brigadier (retd) Shoeb Anwar Kayani, CEO of REDAMCO under the Ministry of Railways, emphasized the strategic utilization of Pakistan Railways' lands for economic development during a session at the Lahore Chamber of Commerce and Industry (LCCI). The initiatives include commercial leases and partnerships aimed at generating revenue and fostering urban development, with a focus on transparency and efficiency.

According to Lahore Chamber of Commerce and Industry, REDAMCO was established to leverage the country's valuable assets, and in the past two years, it has successfully initiated multiple revenue streams through diverse leasing arrangements. LCCI President Faheem ur Rehman Saigol commended the approach, highlighting the potential for new investment opportunities and the positive impact on the national economy and community welfare.

Saigol praised REDAMCO's flexible models, such as public-private partnerships and joint ventures, which he believes will boost investor confidence and accelerate project completion. He reiterated LCCI's support for collaborations between public and private sectors as essential for national development.

Kayani detailed REDAMCO's plans for the development of railway lands, which include projects like shopping malls, IT parks, and hotels. Approximately 168,000 acres of railway land are under consideration, with 74 acres already utilized commercially. He emphasized that all projects adhere to PEPRA rules, ensuring transparency through feasibility studies and open tenders.

The event underscored the crucial role of Pakistan Railways' assets in generating economic opportunities, with Kayani inviting the business community to contribute ideas to REDAMCO's initiatives. Saigol assured support for REDAMCO's endeavors, viewing them as a significant step toward industrial growth and economic strengthening.