Furqan Sarwar
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KARACHI: Pakistan’s real estate giant Bahria Town has signed an MOU with China Railway 20 Bureau Group Corporation (CR20G) to collaborate for the development of a Bus Rapid Transit Blue Line project in Karachi.
According to a press release, the agreement was signed by CR20G Chairman Deng Yong and Bahria Town Chairman Malik Riaz. CR20G has a vast experience of working in the mass transit projects worldwide and it is already working in Pakistan on $1.5 Billion Lahore-Abdul Hakeem Motorway project.
Bahria Town has already expressed its interest with the Sindh Government for the Blue Line project under public-private partnership mode and tendering for the project would be held anytime soon. Partial financing of the project would be obtained from the Global financial institutions which have already showed interest in the financing of the project.
Bahria Town has appointed a consortium of leading advisors and consultants, including Enrique Penalosa, Mayor of Bagota, Columbia, and Exponent Engineers as local technical consultant, Riaz Ahmad and Company Chartered Accountants and Cornelius, Lane & Mufti, Advocates & Solicitors for undertaking the BRT project.