Announcement of inviting foreign funding for Ring Road project
ISLAMABAD, July 27, 2022- The federal government is seeking foreign investors for the construction of the Rawalpindi Ring Road.
One of the twin cities’ most disputed and postponed projects is the Ring Road due to lack of funds. For the development of this project, the government recently decided to look for foreign funding. Rawalpindi Development Authority made the decision to commission an outside firm to assess the project. In the past, the 38.8 km long Ring Road project was given to FWO for a cost of 22.80 billion. For the construction of the Rawalpindi Ring Road and the China-Pakistan Economic Corridor project, the federal government has solicited foreign investment. The project would be created under a BOT (Build-Operate-Transfer) strategy, similar to the Islamabad-Lahore Motorway project.
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