UBL receives mandate to raise Rs25.2b
The ceremony was held at the FWO head office in Rawalpindi
KARACHI:
United Bank Limited CEO Wajahat Hussain and SCORE – a wholly owned subsidiary of FWO – CEO Major General Muhammad Afzal signed a document to award a mandate to UBL for raising Rs25.2 billion debt financing for construction, operation and maintenance of the Karachi-Hyderabad Motorway (M9). The ceremony was held at the FWO head office in Rawalpindi. According to a press release, the project will link Karachi to Hyderabad through a 136-km motorway. More importantly, the project is one of the first practical steps taken by the Government of Pakistan to open up the China-Pakistan Corridor under the strategic national policy.
Published in The Express Tribune, May 7th, 2015.
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