PUNJAB GOVT INVITES RENEXUS TO FAST-TRACK PROPOSAL TO BUILD 160,000 HOUSES

KUALA LUMPUR, Sept 4 (Bernama) -- The Punjab state government in Pakistan
has invited Renexus Bhd of Malaysia to process its proposal to build 160,000
houses on a fast-track basis.

In a letter addressed to the Executive Chairman of Renexus Bhd, John
B. Klerr, the Vice-Chairman of the Punjab Board of Investment and Trade, Pir
Saad Ashanuddin, invited Renexus' management to visit Lahore, the capital city
of Punjab.

The visit is to fast-track an earlier proposal by Renexus to build 20,000
low-cost houses in each of the eight major towns in Pakistan initially
identified for construction of the housing units.

In a statement issued by the Pakistan High Commission in Kuala Lumpur, it
was stated that the Pakistan Government also invited other Malaysian companies
to take full advantage of its vision to provide decent housing for low-and
middle-end families.

The Punjab province, with a population of 82 million, is facing a shortage
of five million houses, with an incremental demand of 700,000 units a year
against the annual provision of 150,000 houses, leaving a huge gap, resulting in
the immense opportunities for construction firms.

-- BERNAMA