Ring Road: FWO secures southern loop contract

The government has saved Rs1.75 billion through viability gap financing

LAHORE: The Frontier Works Organisation (FWO) has secured the Rs4.25 billion contract for Lahore Ring Road’s (LRR) Southern Loop. Lahore Ring Road Authority Chairperson Abdullah Khan Sumbal said Chief Minister Shahbaz Sharif has directed the organisation to complete the project in a year. He said that the 30-kilometre-long loop would be built under public-private partnership. The government has saved Rs1.75 billion trough viability gap financing with the FWO agreeing to complete the project in Rs4.25 billion, Sumbal said. The loop has been divided in three sub-sections. In the first phase the FWO would commence construction on two sub-sections (one and two). These sub-sections have been awarded to the FWO on a build-operate-transfer (BOT) basis.

Published in The Express Tribune, May 8^th, 2016.