LAHORE, Dec 24: Nine more projects involving commercialization of Pakistan Railway’s assets have been finalized for approval by the Railway Board.

If approved, the projects would fetch Rs350 million in the first year and generate Rs145 million a year afterwards.

The PR authorities, sources said, hoped that the contracts with potential investors for all nine projects would be signed during January.

These projects include construction of a multi-storeyed shopping complex on the Railway Station Road, Rawalpindi, and development of a housing scheme on railway land in Dhudial, Chakwal. The 25-30 acres land, has been lying idle close to Dhudial station since it was abandoned long ago. Fearing that the prime land could be encroached upon, the authorities have decided to develop it as a residential area.

Commercialization of railway hospitals and establishment of the Pakistan Railway Institute of Medical Sciences is also being finalized. While railway employees will be provided free treatment as usual, the general public will be allowed to use the facilities as paying patients to recover the expenses.

Arena Multimedia Centre, proposed to be established at the Karachi City station will provide instruction in advanced applications of information technology. A foreign firm has been approached to develop the infrastructure.

A centre for hi-tech games, also in Karachi, is also planned. The stadium is planned over about 2.5 acres, almost entirely under encroachments.

An American fast food chain having an outlet at the Lahore railway station will open two more outlets — one each at Karachi City station and in Clifton.

Introduction of an insurance scheme for passengers is also likely to get the go ahead in the next meeting of the Railway Board. Sale of biscuits on the railway network will also be franchised to a French company.