Punjab: ADB and AIIB to lend $688mn for PARIP
LAHORE: The Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) lend $688.92 million for the Punjab Arterial Roads Improvement Programme (PARIP).
The ADB will contribute a total of $386.60mn (50%), whereas AIIB will contribute $302.32mn (39.1%), and the government of Punjab will bear the remaining 10.9% cost – $84.28mn, of the project worth $773.20mn.
The government has approved various schemes under the development project to be implemented In nine districts – including Bahawalnagar, Bahawalpur, Layyah, Jhang, Toba Tek Singh, Vehari, Okara, Pakpattan and Sahiwal. The approved projects include dualisation and rehabilitation of four provisional highways, improving intercity connectivity and activity.
According to the plan presented by the provincial government, a dual 535km carriageway highway project is scheduled to be completed within 63 months. The project aims to reconstruct and improve the existing carriageway and, with the available right of way (RoW), construct a new carriageway as well.
The project has been divided into 4 corridors. The Corridor – 207 km long will cover Chichawatnl – Rajana/Pir Mahal – Chowk Azam – Layyah. The 103km long Corridor-2 will cover M-4 Chiragabad Interchange – Jhang –Shorkot. Corridor 3, sprawling on 150kms, will cover Depalpur- Pakpattan Shareef -Vehari Road. Lastly, the 75km long Corridor-4 will cover Hasilpur and Bahawalnagar Road.
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