Karachi to Get New Four-Lane Expressway
Sindh Chief Minister Syed Murad Ali Shah has approved the Karachi Port to Qayyumabad corridor project, a 16.5-kilometre four-lane expressway to be built on a public-private partnership basis.
The approval came in the 53rd meeting of the Public-Private Partnership Policy Board, chaired by the Chief Minister.
The project will connect Shahrah-e-Bhutto to the East Wharf of Karachi Port, with access on the corridor to remain controlled.
The contract period has been set at 27.5 years, comprising 2.5 years of construction and 25 years of operation and maintenance. The project will be completed on a design, finance, construction, operation, maintenance, and transfer basis.
A proposal is also under consideration to introduce an Infrastructure Real Estate Investment Trust (REIT) in place of Class A equity in the project company. Matters related to the Karachi Port Trust licence agreement and the issuance of a final no-objection certificate also came under discussion.
The Chief Minister also approved works to protect the riverbanks along the Shahrah-e-Bhutto Expressway. These include underwater protective embankments, the construction of an additional loop and ramp at Memon Goth Interchange No. 5, and the installation of street lights.