LAHORE, Nov 8: The Traffic Engineering and Transport Planning Agency is updating the $5 billion Light Rail Transit Project for inviting new entrepreneurs to come forward for its execution on a build-operate-transfer basis by the end of December.

Tepa chief engineer Khushal Khan told Dawn on Saturday that the decision to invite fresh bids for the project had been taken following the failure of the previously selected intending investors to submit the revised feasibility report despite extension to time limit twice.

The project was now being updated keeping in view the new technological developments, he added.

He said foreign investors from China, Japan and the Middle East had contacted him for the details of the project. A number of local investors, including a bank, had also made inquiries about the project for investment.

He said the investors would be invited to come forward for completing the first phase of the project between Shahdara and Kot Lakhpat overhead bridge. It would be extended in the second phase.

It was proposed that the light rail should be constructed under the Shahrah-i-Quaid-i-Azam, and not above it. A tunnel would be built under the stretch between the Lower Mall and Faisal Square for this purpose. An interchange had also been proposed at the defunct Lahore Omnibus Service depot on the Ferozepur Road.

Light rail stations, Tepa CE said, would be built at the Ravi Bridge, Minar-i-Pakistan, Bhati, Jinnah Hall, Regal, Faisal Square, Ganga Ram Hospital, Chowk Qartaba, LOS, Ichhra, Rehmanpura, Qaddafi Stadium, Model Town and Linear Park, and terminals at Shahdara and near the Ferozepur Road overhead bridge.

He said the agency would monitor the execution of the project and build different stations. it could also associate itself in construction of the track in the event of an agreement with the investors. The rail track would be 15 feet above the ground level.

The LRT project had been allotted to the Monolite Group last year. The company submitted the feasibility report for the project after conducting a survey, but was asked to revise the report because the previous one had been submitted without taking into account the buildings and other obstructions along the route.

However, the revised feasibility report could not be submitted despite extension to the deadline because the foreign partners/investors left the country in the wake of developments in Afghanistan.