ISLAMABAD, Pakistan: Recarpeting and renovation work of Islamabad-Lahore Motorway (M-2) scheduled to be completed by December this year would be completed by much ahead of time by the end of next month.
Talking to the state-run news agency on Thursday, an official source said that the “work was in full swing and it would be completed by May or June”.
It is worth mentioning that total cost of the project is Rs 30.935 billion which includes renovation of toll plazas, weigh stations workshops as well and the total length of the M-2 being recarpeted is 714 Kms.
An official of National Highway Authority (NHA) said the expenditures incurred on re-carpeting of the M-2 was made from the revenue generated through toll tax, therefore no expenditure is made from the other development heads of the NHA.
Renovation and overlay work on the M-2 had started in January last year by M/s MORE (FWO), the Build-Operate-Transfer (BOT) concessionaire of the project.
The M-2 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 re-designing and beautification of Lahore-Islamabad Motorway (M-2) 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.
He said that the government was not seeking any loans from abroad for the construction of the road. On the contrary, the FWO would pay an amount of Rs 206 billion to the government of Pakistan over the agreement period, besides looking after the road.