Thatta-Karachi Dualway Carriage: signing ceremony of financing agreement held

Sindh Chief Minister Syed Qaim Ali Shah has said that Thatta-Karachi Dualway Carriage would be a milestone in the development of the province. He said that he is committed with people and leadership to develop Sindh and create congenial atmosphere for investment in industrial sector, particularly in Thar coal field.
He was addressing the signing ceremony of financing agreement of Thatta-Karachi Dual Carriageway Project at the CM House here on Tuesday, said a statement. He said that building infrastructure and commitment of providing better road network, the Works and Services Department in association with Sindh Public Private Partnership Unit is going to launch Karachi-Thatta Dual Carriageway Project.
The project is most important artery in the province from Karachi to Thatta and a larger economic benefit of this project is linked with connecting this corridor from Thatta towards Thar for Thar coal field, he added. The CM Sindh said the improved access envisaged would serve thousands of commuters living along the Karachi Thatta route and those who are already using this facility up to Thatta or beyond.
It is also expected that the improved facility would help open up these areas from creation of soft infrastructure such as better services for schools and health centres as these areas would become easy to reach through this project, he said. Addressing the occasion, Senior Minister for Finance Syed Murad Ali Shah said that the importance of the project is also highlighted with its connection with the Thar Coal Field Area.
He said that after a fair and transparent bidding process, Sindh government has joined hands with the Frontier Works Organization (the pioneers of infrastructure development in Pakistan) under Public-Private Partnership mode to dualize the existing National Highway N-5 starting from Gaggar Phatak to Thatta Bypass having total length of 49 kilometers.
Giving details of the project, Syed Murad Shah said that cost of the project is Rs 1.35 billion. He said that as per the financial structure of the project 70 percent of the cost that is around Rs 6,199 million would be arranged through commercial loan. The remaining 30 percent amount of Rs 2,657 million would be contributed through equity, he added. Furthermore, 53.3 percent of the equity or Rs 1,417 million would be contributed by the FWO, where the remaining 46.7 percent or Rs 1,240 million would be given by Sindh government.