Government Invites Foreign Investments for Construction of Rawalpindi Ring Road
Rawalpindi Ring Road is one of the most disputed and delayed projects of the twin cities. The previous government took different steps to start the work on this project but the present government halted the project due to insufficient funds. However, recently the government has decided to seek foreign investments for the development of this Project.
Furthermore, Rawalpindi Development Authority also decided to hire a third-party consultancy for the evaluation of the project. This consultancy will study and evaluate the project and make recommendations and modifications in the route of CPEC, and final decisions and approval will be granted by administrative authority and planning commission. In the past, Ring Road project was awarded to FWO for a bid of 22.80 Billion and the project stretched to 38.8 km.
Federal government has invited the foreign investors for the development of Rawalpindi Ring Road and the China-Pakistan Economic Corridor project. According to the details the project will be developed under a BOT (Build-Operate-Transfer) model similar to the Islamabad-Lahore Motorway project. The decision was finalized after Prime Minister visited the United Arab Emirates.
Aside from Rawalpindi Ring Road, 4 projects were pitched to the UAE officials including:
- Phase-1 Oil Import Terminal
- Kharian-Rawalpindi Motorway
- Karachi Circular Railway
- Rail Connectivity of Thar Block-2
Now, the third-party consultancy will create a revised plan for Rawalpindi Ring Road, after that, funds will be allocated by foreign investors and development will start officially.
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