Lahore: The Lahore Ring Road Authority (LRRA) and the National Logistics Cell (NLC) on Saturday signed an agreement for the construction of the Lahore Ring Road’s Southern Loop III; paving the way for the initiation of the PKR 10 billion project by the end of going week, according to news sources.
LRRA Chairman and City Commissioner Saif Anjum inked the said agreement, along with Chief Operating Officer Colonel Shah Jahan. Prime Minister (PM) Imran Khan and Punjab Chief Minister (CM) Sardar Usman Buzdar attended the signing ceremony.
According to details, the construction of Southern Loop III (SL3) is expected to commence from Raiwind Road (Adda Plot) and will connect Multan Road at Maraka point. The 8-kilometre-long SL3 project will feature two interchanges, three subways and six lanes dual carriageway. It is expected to be completed with a year’s time frame.
Moreover, the SL3 is all set to be constructed under a public-private partnership (PPP) mode and a build, operate and transfer (BOT) basis. The authority has also acquired 3,098 kanals of land worth PKR 4.586 billion. The cost of this project will be recovered by the contractors in the form of the toll collected from motorists. An estimate revealed that aside from connecting the remote areas to city junction, the SL3 will host 34,000 vehicles on a daily basis.
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