Rawalpindi: The federal government has invited foreign investors to construct the Rawalpindi Ring Road (RRR) and Economic Corridor project, news sources reported on July 24. The PKR 38.6 billion project is one of the five projects that will be built through Foreign Direct Investment (FDI).
According to reports, the project would be developed under a Build-Operate-Transfer (BOT) model, similar to the Lahore-Islamabad Motorway (M-2). The decision was made following Prime Minister (PM) Shehbaz Sharif’s visit to the United Arab Emirates (UAE), where he pitched five megaprojects to be developed under the Public Private Partnership (PPP) with foreign investors. The five projects include Parco coastal refinery Phase-I oil import terminal, Kharian-Rawalpindi Motorway, Rawalpindi Ring Road, Karachi Circular Railway (KCR), and Rail Connectivity of Thar Block-II with the railway network.
It is worth noting that the 38-kilometre-long RRR project was previously listed in the government’s Annual Development Project (ADP) list. However, due to budgetary difficulties, the project was halted. The project also includes the creation of an industrial zone along the route to help the region’s industrial base.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
