ISLAMABAD (April 15 2009): Japan has agreed to provide assistance for three projects, including Karachi Circular Railway project (KCR), sixth secondary transmission and grids project of Gujranwala Electric Power Company (Gepco) and New Khanki Barrage. Japan may make formal announcement in the Friends of Democratic Pakistan (FoDP) meeting scheduled in Tokyo on April 17.
The consultant Scott Wilson Railways, UK, appointed by Pakistan Railways revalidated the feasibility study report on revival of KCR. The draft report of the consultant advised to conduct detailed feasibility study of the project. The Jica has already undertaken the supplementary studies, including demand traffic forecast model and environment impact assessment (EIA) studies.The loan will be STEP loan repayable in 40 years, including 10 years grace period.
The length of revival of KCR project is 49.1 kilometres and the cost is 872.316 million dollars. Under the STEP loan, Pakistan would ensure import of 70 percent material for the project and 30 percent locally produced material to be used to complete the project, sources said.
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