KARACHI, Sept 3: President Gen Pervez Musharraf has approved in principle the Karachi Magno-Metro project during a briefing by Prof Dr Wagnon of Germany here on Tuesday.

The 1.2-billion-dollar project, covering about 120-km-long corridor, would be built on a BOT (build, operate and transfer) basis.

The President asked Dr Wagnon to submit a preliminary report within fourteen days followed by a detailed report by December.

Terming the project a futuristic idea, Gen Musharraf said it would not only help resolve the transport problem but would also open up an era of modern age in the country.

The project is likely to be completed within eighteen months. The President also asked the officials to invite Dr Wagnon to Islamabad for further study of the project.

Sindh Governor, his cabinet members and City Nazim were also present. — APP