NHA signs BOT contract for construction of M-9

[Salman]

NHA signs BOT contract for construction of M-9

ISLAMABAD: National Highway Authority signed a Build-Operate-Transfer (BOT) contract with a Malaysian Company M/s Binapuri Holdings for construction of Karachi-Hyderabad Motorway (M-9). Chairman NHA Syed Muhammad Ali Gardezi and Senator Tan Sri Datuk Tee Hock Seng signed the agreement on behalf of their organisations. The cost of the project is Rs 24.93 billion and it will be completed in a period of three years.

Under this project existing 4-Lane Karachi-Hyderabad Super Highway will be upgraded into 6-Lane Motorway. The ceremony was also witnessed by the Federal Minister for communications Dr Arbab Alamgir Khan. While addressing the audience at the ceremony, the Federal Minister said that there are vast opportunities of foreign investment in the road infrastructure and highway projects in Pakistan. He told that such investments would help build up our relations with fellow countries, bring new technology to Pakistan, create job opportunities for local people and improve skills of the local manpower. Taking opportunity of this occasion, he said, he would like to invite foreign firms from Malaysia and other countries to come and invest in Pakistan. Our Ministry would provide all possible assistance to the investors and facilitate them, he added.

The Federal Minister said that the BOT projects provide a unique opportunity for countries like Pakistan to develop their infrastructure requirements and meet the various future developmental challenges. Keeping in view the challenges faced by our economy, Government of Pakistan has opened up our economy to attract foreign investors. In the same stride, Ministry of Communications and NHA has also provided attractive benefits to the investors for investment in the Pakistan’s road infrastructure.

The BOT projects are not new to our economy, Lak Pass tunnel in Balochistan and Islamabad-Lahore Motorway (M-2) built by NHA are glaring examples of the trust shown by the investors in us. The BOT agreement between Binapuri Holdings and NHA is yet another example, which proves that foreign investors are ready to invest in Pakistan and they feel secure about their investments.

Karachi-Hyderabad Motorway will be built on BOT basis, costing Rs 24.93 billion. 136 km long Motorway will be completed in three (03) years. There are seven Interchanges, two Service Areas and sixteen 16 Toll Plazas are also part of the project. Construction work on this project is likely to start during the next month. The proposal was presented before the NHA Executive Board, which accorded approval to award of contract of construction of Karachi-Hyderabad Motorway (M-9) to Malaysian Construction Company M/s Binapuri Holding, on BOT basis with concessionaire period of 28 years, including three years construction period.