LAHORE: China’s Exim Bank has released another tranche of Rs3.63 billion for the Lahore Metro Train’s Orange Line project, bringing the total disbursed amount to Rs44 billion.
The 27-kilometre mass transit scheme is funded through $1.65 billion in soft loans through the Export-Import Bank of China.
A Punjab government spokesman said the Exim Bank had released four instalments, amounting to Rs44 billion out of the total sum of Rs165 billion. Nearly half of the civil work of the project has been completed.
The bank released the first tranche in May after rigorous scrutiny of documents and inspection of construction quality by Chinese contractors – China Railways-China North Industries.
Published in The Express Tribune, September 27th, 2016.