LAHORE: The construction work on sections 1 and 2 of the Ring Road’s southern loop will be launched within a week or so as the finance department has released Rs2 billion as viability gap financing (VGF), the money that is mandatory to be released in accordance with law for projects started under the public-private partnership mode.
“The Frontier Works Organisation will carry out the construction work after the government awarded Rs25bn project to it under this mode,” said Lahore Ring Road Authority Chairman/Commissioner Abdullah Sumbal.
He said the FWO had established its site/camp offices near Gajjumata on Ferozepur Road and started mobilising its manpower, labour and equipment there to start the construction work on both sections – L-1-(DHA phase-5 to Gajjumata) and SL-2 (Gajjumata to Adda Plot, Raiwind Road).
The official said the firm would bear all expenses to be incurred on the project which it would recover through toll collection within 25 years. He said the firm would also construct a six-lane dual carriageway of 22.6km, install electronic toll system on both sections and all other sections of the already constructed Ring Road’s northern loop, grow mini forests (oxygen pockets), etc.
Published in Dawn, July 16th, 2016