Rawalpindi: The authorities concerned have extended the deadline for the submission of Expressions of Interest (EOI) concerning the development of the Leh Expressway project from August 20 to August 30, a news source reported. As per the government, the megaproject would be built under a public-private partnership model for which eight companies have already submitted their bids.
Previously, the government had tasked the Rawalpindi Development Authority (RDA) with the project’s execution following consultations with experts. It also earmarked funds worth PKR 26 million for granting the contract to prepare an advisory report. After that, the companies will engage in open bidding for the construction of the project.
The current government revived this project and decided to run its construction on a ‘Build, Operate and Transfer’ (BOT) basis. Under this financing method, the executive is expected to finance about 15% of the total PKR 70 billion cost of the expressway.
As per reports, following the project’s completion, the construction company would be allowed to charge PKR 20 per vehicle for the next 10 years after which the government will gain complete control over the Leh Expressway’s financial matters.
