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April 22, 2016
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Renovation of M2 to be completed by May

Business

April 22, 2016

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ISLAMABAD: Re-carpeting and renovation work of Islamabad-Lahore Motorway (M2), scheduled to be completed by December this year, would be completed by much ahead of time by the end of next month.

Talking to APP on Thursday, an official source said that the work is in full swing and it would be completed by May or June.

The total cost of the project is Rs30.935 billion, which includes renovation of toll plazas weigh stations workshops, as well and the total length of the M2 being recarpeted is 714kms. An official of the National Highway Authority (NHA) said the expenditures incurred on re-carpeting of the M2 were made from the revenue generated through toll tax; therefore, no expenditure is made from other development heads of the NHA.

Renovation and overlay work on the M2 had started in January last year by MORE (FWO) the build operate transfer (BOT) concessionaire of the project.

M2 was handed over to FWO on December 15, 2014 for operation and maintenance for the next 20 years.

Signing ceremony of the BOT agreement between the NHA and the Frontier Works Organization (FWO) for redesigning and beautification of Lahore-Islamabad Motorway (M2) was held in April 2014.  He said that the overlaying fencing beautification of the road would make travel along it all the more a wonderful experience.

The government is not seeking any loans from abroad for the construction of the road, he said.

On the contrary, the FWO would pay an amount of Rs206 billion to the government of Pakistan over the agreement period, besides looking after the road.

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