P3A approves Sialkot-Kharian motorway project worth Rs27.8bn

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Islamabad: The Sialkot-Kharian Motorway project costing Rs27.8 billion was approved in the Board meeting of the Public-Private Partnership Authority (P3A).

The meeting was chaired by Minister for Planning, Development and Special Initiatives Asad Umar.

The National Highway Authority (NHA), Frontier Works Organization (FWO), and Sultan Mehmood & Co. will construct a 69 km long, 4-lane road on a Build-Operate-Transfer (BOT) basis under Public-Private Partnership (PPP).

The government will back up the project’s financial viability via Viability Gap Fund (VGF) comprising Rs. 10.94 billion. The project will be completed within 24 months after the financial close, with a concession period of 25 years.

The future project will complement the Kharian-Rawalpindi Motorway and also supplement the inflow of the existing Lahore-Sialkot Motorway.

 

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