Rawalpindi: Project Management Unit (PMU) for Rawalpindi Ring Road (RRR) has been prepared at a cost of around PKR 153.5 million, reported a news source. The final approval for the PMU will be issued by Punjab Planning and Development Department.
Sources from Punjab Housing Department have also confirmed receiving the PMU by the executive agency National Engineering Service of Pakistan (NESPAK).
According to the PMU, PKR 2.75 million will be spent on furniture and fixtures for the project, while the estimation for the amount required for land acquisition will be carried out later.
The 38.8-kilometre long RRR will connect GT Road near Karbath with Thalian Interchange on Lahore-Islamabad Motorway M-2. In addition to that, two 12-kilometre long link roads will also be constructed in Rawat and Tarnol.
The loans for RRR will be provided by Asia Infrastructure Investment Bank of China (AIIB).
While AIIB has already given its consent to fund the project, it will be formally approached once cost estimation for land acquisition and an NOC in this regard is issued by the departments concerned.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
