Islamabad: The National Highway Authority (NHA) has issued a Letter of Intent (LoI) for the construction of the Kharian-Rawalpindi Motorway project, which is the final part of the Lahore-Rawalpindi Motorway (M-2), according to news published on August 17.
The authority has selected the Techno-Matracon as a successful bidder for the construction of the motorway project, which is being executed under the Public-Private Partnership mode on a Build-Operate-Transfer basis. As per the details, the accumulated cost of the project was PKR 85.6 billion, out of which PKR 6 billion is requested as Capital Viability Gap Funding (VGF) during the construction period.
Moreover, the contractor will provide PKR 112 billion to NHA as its revenue share in the next 25 years. It was mentioned that the successful bidder offered to construct the motorway in half of the money as compared to other companies. It is pertinent to note that Techno-Matracon has been awarded contracts to construct Sukkur-Hyderabad Motorway as well.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
