An agreement on the Lahore Mass Transit Project to be completed at a cost of 1.7 billion dollars was signed between the Punjab government and China in Beijing.
After Taunsa Power Project agreement, it is the second big achievement of Punjab chief minister Shahbaz Sharif-led delegation visiting China.
Lahore Transport Company chairman Khawaja Ahmed Hassaan on behalf of the Punjab government whereas Zhang Shiping, Vice President of NORINCO, an international company of China, signed the agreement. Seven kilometers of urban rail spreading over a stretch of 27 km in Lahore from Gajumata to Shahdara on Ferozpur Road will be laid underground. As much as 85 per cent capital would be provided by China.
Addressing the agreement signing ceremony, Punjab CM Shahbaz Sharif said that the project prepared with the cooperation of China would prove to be a beginning of public transport system revolution in Pakistan. He said that the economic cooperation of China with Punjab had transformed into solid agreements after the MoUs.
The chief minister said that the work on the project would be started during this year and the Punjab government was ready to welcome the Chinese engineers and skilled workers for the purpose.