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NHA plans for $2 billion roads building work by 2007
RECORDER REPORT
ISLAMABAD (September 18 2005): The Government has chalked out a $2 billion plan for construction of roads and highways across the country by the end of 2007.
Federal Minister for Communication Shamim Haider Siddiqui said this while inaugurating Gujar Khan Underpass here on Monday.
The underpass is the first BOT project of its kind by National Highways Authority (NHA). The project was offered for public-private partnership on BOT basis at an estimated cost of Rs 25 million.
The BOT contract was finalised in October 2003 with a private leasing company (Basharat Hussain & Company) for 30 years lease agreement with 10 percent rent sharing by NHA.
The entire cost of construction (Rs 30 million) was borne by the BOT contractor. The construction work commenced in October 2003 and completed in May 2005 on 1700 sq metre underground covered area.
The minister said that World Bank has promised to provide $4.2 billion for the development projects, out of which $2 billion would be spent on construction of highways and roads in the country.
He said that Rs 240 billion worth projects in the communication sector have been identified to be undertaken, which would be completed in the next five years.
NHA would construct highway from Faisalabad, Khanewal, Lodhran and Rajanpur to Karachi at approximate cost of Rs 40 billion to Rs 50 billion.
Copyright Business Recorder, 2005