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  • Writer's pictureIridium Real Estate

Government to Seek Foreign Funding for Rawalpindi Ring Road Project

The Federal Government has actively started pursuing investors for the upcoming project of Rawalpindi Ring Road (RRR).

The project, which is set to cost around Rs. 38.6 billion, is one of the five projects that is going to be built through Foreign Direct Investment (FDI).

Five projects are as follows:

  1. Parco Coastal Refinery Phase-I Oil Import Terminal

  2. Kharian-Rawalpindi Motorway

  3. Rawalpindi Ring Road

  4. Karachi Circular Railway

  5. Rail Connectivity of Block-II with Railway Network

A source close to the government claimed that the government wants to work on these projects by securing foreign investment instead of utilizing the Annual Development Program (ADP) or through local investors.

The RRR project was previously listed under ADP. However, due to economic recession and other budgetary difficulties, the project was completely halted.

In addition to this, the source also revealed that Punjab still has not appointed a consultant to conduct third-party validation of the optimal route for RRR.

It is worth pointing out that the government is also planning to maximize value by creating an industrial zone along the RRR to boost the country's industrial base.

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