‘Ring Road project free of deadlocks’
Rawalpindi Commissioner said that the Ring Road project has a special attraction for the investors as there were no major deadlocks in it.
He was addressing an investors’ conference at Rawalpindi Gymkhana on Monday. The conference was attended by over 80 representatives of more than 20 local and international construction companies.
The top officer of the Rawalpindi division said that the route selected for the Ring Road project was mostly barren land and therefore, there was no hindrance in the land acquisition project. Mehmood said that the companies participating in the conference had a great experience in completing mega projects in Pakistan.
He added that the political and social circles were wishful of the early start of construction work and completion of the Ring Road project.
The official expressed that the project would spur economic activities in Islamabad and Rawalpindi.
Confusion prevails over Ring Road project
He added that the Ring Road would exclusively connect Islamabad, Rawalpindi, and Chakwal while the locals of Chakwal and Jhelum would also benefit from it.
The commissioner said that the project would gain more importance after becoming part of the China Pakistan Economic Corridor (CPEC) project. He said that the construction period of the 66.3 kms long project was two years while the revenue generated from the project for a period of 25 years would go to the investor while it's maintenance and operation would also be responsible of the investor.
The commissioner said that the investment made in this scheme would be exempt from Punjab Revenue Authority tax. He informed the investors that the feasibility report of the project had been prepared, NOCs had been obtained from other agencies including the Environment Department.
The project is in the final stages of approval by the Public Private Partnership Authority.
The briefing given at the Investors Conference will soon be available on the website of Rawalpindi Development Authority.
The companies which participated in the conference include: China Road and Bridge Corporation, China Construction and Engineering, China Shandong International, NLC & China Gezhouba Group, Habib Rafique pvt Limited, FWO, Habib Construction Services, ZKB Engineers and Contractors, China Railways Construction Corporation, French company VINCI, Norinco International Corporation Ltd, China State Construction Engineering Corporation, Syno Hydro (Power China), SKB Construction and Pak-China Investment Company.
Representatives of chambers of commerce and industry of Rawalpindi and Islamabad also participated.
Published in The Express Tribune, January 19th, 2021.