Home Business Rs27.8bn motorway undertaking given go-ahead

Rs27.8bn motorway undertaking given go-ahead

by News Updater

ISLAMABAD: The board of administrators of the Public-Personal Partnership Authority (P3A) on Friday accredited the signing of Rs27.eight billion Sialkot-Kharian Motorway Challenge.

The approval, first-of-its-kind beneath the revolutionary transaction construction, is a serious breakthrough in improvement financing, Planning Minister Asad Umar mentioned whereas chairing the P3A board’s assembly.

In the meantime, taking to the social media platform Twitter, Mr Umar mentioned, “Chaired P3A authority board & approved signing the Rs27.8 billion Sialkot-Kharian motorway agreement. It is first project using innovative financial structure using VGF. This will open a major new development financing instrument. Projects in pipeline total Rs 1 trillion”.

The P3A board thought of approval of the Public-Personal Partnership (PPP) settlement for the development of Sialkot-Kharian Motorway on a PPP foundation.

Earlier, the board had accredited the transaction construction and bidding documentation bundle of the undertaking and profitable bidders’ proposal in its conferences held in March and June, respectively.

The undertaking envisages the development of a greenfield 69-km-long four-lane toll highway on a Construct-Function-Switch (BOT) foundation at a price of Rs27.8bn.

Revealed in Daybreak, August 28th, 2021

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