Orange Line: China’s Exim Bank releases Rs3.63b tranche

Published: September 27, 2016
Email
The 27-kilometre mass scheme is funded through $1.65 billion in soft loans through the Export-Import Bank of China. PHOTO: NNI

The 27-kilometre mass scheme is funded through $1.65 billion in soft loans through the Export-Import Bank of China. PHOTO: NNI

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.

Fate of Orange Line hangs in the balance

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.

Facebook Conversations

Reader Comments (2)

  • Perhaps
    Sep 27, 2016 - 2:46PM

    Man this is insane. Whopping 44 billion Rupees ! and Rs165 billion in total. Imagine how many problems we’d solved with this amount of money. We do not need such luxury items when majors issues like health, water, education and corruption etc are hovering over our nation. I am no supporter of PTI and I don’t care what they are doing in KPK. However, being a citizen of Punjab i have complete right to censure the pathetic priorities of Active Government of Punjab.Recommend

  • Khalid
    Sep 27, 2016 - 4:31PM

    Massive project. very happy to c this in Lahore. Recommend

More in Pakistan