Sindh Government has chalked out eight external financing scenarios for Karachi Bus Rapid Transit (BRT) Red Line Project, one of the five metro bus projects approved for Karachi.
Four international financial institutions will put in $490 million financing for this key mass transit project of Karachi. These include Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), Agency France for Development (AFD) and Green Climate Fund (GCF).
According to sources in Sindh Government, in the financing plan-I, ADB will contribute $242 million, AIIB $100 million, AFD $100 million and GCF $48 million.
In financing plan scenario II, AFD and AIIB will provide $100 million each whereas ADB will provide $292 million.
In financing plan scenario III, AFD will provide $100 million, GCF will give $48 million and ADB will finance $342 million.
In financing plan scenario IV, AIIB will provide $100 million, GCF $48 million and ADB $342 million.
In scenario V, AFD will provide $100 million whereas ADB will provide $392 million and in scenario VI, AIIB will provide 100 million dollar and ADB to provide 392 million dollar.
In scenario VII, GCF to provide $48 million and ADB to give $442 million whereas in the scenario VIII, ADB will finance $490 million project as part of external finance component.
Sindh Government will put in $80.3 million (Rs 9.239 billion) in the total cost of the project in the revised PC-1 compared to $93.08 million (Rs 10.704 billion) in the original PC-1. The provincial government allocated Rs 100 million in Annual Development Plan (ADP) for financial year 2018-19.
The government anticipates annual operating and maintaining cost of the project stands at Rs 3.273 billion in the first year against the total revenue, which has been projected at Rs 3.651 billion.
Karachi BRT Red Line Project will develop a sustainable urban bus project in Karachi with less travel time and enhance mobility and accessibility. The BRT Redline will start from Numaish and will end at Malir Halt
The estimated passengers per day would be 320,000, documents show and envisage construction of metro bus dedicated corridor measuring 29.5 Kms in length, out of which 26.84 Kms at grade section, 0.8 kms is elevated and 1.86 kms is underground section.
The project's scope of the work includes six off-corridor routes including direct and feeder services. Work on the off-corridor routes involves rehabilitation of 5 Kms existing roads, repair of 20 Kms existing roads and provision of 200 bus shelters with bus bays.
Also, procurement of 199 buses comprising of three types 9m, 12m & 18m and provision of ITS equipment and security systems. Besides, land acquisition, resettlement plan, relocation of utilities and three-year operation cost of Trans Karachi.
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