LAHORE, Sept 28: The Asian Development Bank has shown interest in financing the $2.4 billion priority line of the city’s planned light rail project, and the provincial administration has requested the federal government to have it materialised through talks with the bank.

Official sources informed Dawn on Thursday that the bank had shown interest in funding the project during initial negotiations recently held with it by the provincial government authorities.

The Punjab government intends to introduce the light rail service in Lahore on four lines, each costing around $2 billion.

The priority line for which it hopes to get financial assistance from the ADB will be 27.5km long, and it will provide world-class rail service from Shahdara to Kot Lakhpat via Ravi Road, Bhati Chowk, Lower Mall, The Mall, Charing Cross, Queen’s Road, Mozang Chungi and Ferozepur Road.

Officials said according to a study funded by the Punjab government, a 12km portion of the line from Data Darbar to the Linear Park would be underground, covering Bhati Chowk, Lower Mall, The Mall, Queen’s Road, Mozang Chungi and Ferozepur Road up to Model Town. The line would have 22 stations — 12 of them underground.

Of the total estimated cost of $2.4 billion, a $1.4 billion amount would be required for development of the infrastructure and laying railway lines and the remaining sum for purchasing trains, installing traffic signals and a computerised controlling and monitoring network.

Officials said the best (final) choice for the execution of the mega project had also been found. And according to it, the provincial government would itself develop infrastructure at a cost of $1.4 billion. It could consider having the other facilities developed either on a BOT (build-operate-transfer) basis or through suppliers’ credit.

This model would make the project a highly viable venture and it had already been appreciated by Prime Minister Shaukat Aziz after it was recently presented to him by Chief Minister Pervaiz Elahi.

The light train transit system in Lahore is the main component of the provincial government’s rapid transport system which it intends to make operational by 2012. The other three routes would cover Multan Road, Gulberg-Model Town and Cantonment area.

The plan was initially made by the then provincial government after JICA (Japan International Cooperation Agency) had conducted a related study in the 80s. The project could not be executed for various reasons but it was again taken up by the chief minister last year.

The study for seeking various viable options was conducted by an international agency after the P&D invited tenders for it.