LG team to showcase four projects of $517m in Beijing Road Show

PESHAWAR: A team of the Local Government, Elections and Rural Development Department (LGE&RDD) will leave today (Friday) for China to showcase four projects of $517.287 million in the “Beijing Road Show” scheduled to be held on May 17 and 18.

Secretary LGE & RDD Syed Jamaluddin Shah will head the team while Director General Peshawar Development Authority (PDA) Saleem Hassan Watto, Ameenuddin, PDA director, and Bashir Muhammad, assistant director, are other members of the team.

The projects the LGE&RDD team is going to offer to the Chinese investors include the Construction of Northern Section of Ring Road (Missing Link) From Warsak Road to Jamrud Road, New General Bus Stand-CPEC Tower in Peshawar, Commercial, Recreational & Residential Complex-II Hayatabad and Establishment of Health City in Regi Model Town. The estimated cost of these projects comes to Rs55.350 billion.

These projects as put in by secretary LG Jammaluddin Shah would provide an opportunity for the Chinese investors to invest and recoup the capital investment with profit.

These can be executed through Public-Private Partnership or any other mode mutually agreed by both the parties and these are also open for all the state-owned, state-supported and private entities.

The LG Department’s official document indicates that Ring Road project will provide an alternate route to the city commuters and reduce traffic congestion as well as environmental pollution. It will open new areas of development so as to put the city growth in a radial pattern rather than in linear direction.

The project will involve construction of dual carriageway, service road on both sides, two flyovers, one interchange, six bridges, two underpasses, drains and culverts.

The total length of the road is 14 kilometres. It will cost around Rs12.00 billion or $114.28 million and the investment to be made, the government planners believe, could be ploughed back in 10-15 years through toll taxes and exploitation of commercial sites along the road.

The estimated per year revenue from the proposed project will be around US $1.543 million.The scope of work for General Bus Stand and China Pakistan Economic Corridor (CPEC), they say, will include construction of terminal building, ticketing  and waiting areas, cafeteria, shops, bus bays, MT pool, workshop, service stations, drivers’ rest room, parking and passenger pick and drop services.

Similarly, CPEC Tower will provide facilities such as offices for multinational companies, customs clearance agents, goods transport companies, camp office of financial attaches, courier services, banks, commercial area, food courts, residential apartments and parking floors.

The cost of project will be Rs18.862 billion, of which Rs13.862 will be assigned for new Bus Stand and Rs5 billion for CPEC Tower and the project payback period will be seven years.

The Commercial, Recreational & Residential Complex-II, Hayatabad project has been planned to provide social, recreational, foodstuff, commercial and residential facilities to the general public, particularly residents of Hayatabad.

The scope of the project contains construction of shopping malls, offices, fitness club, recreational centre, restaurants/cafeteria, ceremonial halls, cineplex and residential apartments.

The total cost of project is Rs10.694 billion ($101.848 million). It would be executed on 35 acres land costing Rs6950 million ($66.190 million), which the provincial government would contribute as its share. The payback period of the project is eight years.

The Health City in Regi Model Town is the hugest of all the four projects, which is estimated to cost Rs22.656 billion ($211.737 million).