Metro train: Agreement ‘likely to be signed during CM’s visit’

LAHORE:

Pakistan has fulfilled all requirements put forth by the Chinese bank extending a loan for the Orange Line Metro Train project. The two countries are likely to sign the agreement for the disbursement of the loan during Chief Minister Shahbaz Sharif’s ongoing visit to the country, a senior official of the Punjab Mass Transit Authority (PMTA) told The Express Tribune on Tuesday.

He said the Chinese government’s major reservations about the project had been addressed after the federal government’s guarantee that it would incur the expenses on the project exceeding the agreed loan amount.

Official written assurances had also been submitted to the Chinese government about uninterrupted provision of utilities like electricity, gas and water to Chinese contractors working on various development projects in the province.

He said Chinese government had also sought a guarantee that Pakistan Railways it would facilitate the firms working on the projects started in the country with Chinese investment. He said a written assurance had been provided for the purpose.

He said both countries wanted to ensure that there would be no hurdles in the execution of the project. He said they wanted to complete the project in 27 months according to the timeline agreed in the beginning.

The 27 km Orange Line Metro Train project is estimated to cost $1.6 billion.

Published in The Express Tribune, August 26^th, 2015.