Lahore—FWO has been awarded the contract of construction of (southern loop) of Lahore Ring Road. Commissioner Lahore Division and Chairperson Lahore Ring Road Authority, Abdullah Khan Sumbal has said that Punjab Chief Minister Muhammad Shehbaz Sharif has directed FWO to complete southern loop of Lahore Ring Road within one year.
Due to special interest of Punjab Chief Minister, Punjab government has succeeded in saving 1.70 billion rupees in this contract, he added. He said that under public private partnership, Punjab government has played its role in viability gap financing in the construction of 30-kg long southern loop convinced FWO to complete construction work in 4.25 billion rupees instead of 5.90 billion rupees.
Abdullah Khan Sumbal told that southern loop of Lahore Ring Road consists of three sub-loops including southern-I, II and III. FWO will first start work on I and II loops which is 22 kilometer long, he added.
He said that this agreement has been given to FWO on the basis of BOT (build, operate and transfer) under public private partnership.
He said that Punjab Chief Minister Shehbaz Sharif has especially directed to complete southern loop of Lahore Ring Road within the stipulated period and ensure high standard.
It is worth mention that Punjab government has made savings of 215 billion rupees in different mega projects and saving of 1.7 billion rupees in Ring Road Project is part of campaign of Chief Minister.