Fresh bidding ordered for Yellow Line busway project

The Public-Private Partnership Policy Board’s 26th meeting on Wednesday decided expediting the procedures for constructing the Yellow Line and Blue Line of the bus rapid transit system, the Malir Expressway and a 50MW power plant for the K-IV project.With Sindh Chief Minister Syed Murad Ali Shah in chair, the meeting was told that the transport & mass transit department signed a concession agreement for the Yellow Line project with a Chinese firm on September 9, 2016.The CM was informed that the firm tried to raise funds via Chinese banks but to no avail. The Sindh Public-Private Partnership Act requires the private party to achieve financial closure within 12 months.Failing to achieve financial closure, the situation must be reported to the policy board with valid reasons so that the board can decide if the existing procurement process needs to be scrapped.The board approved the termination of the existing procurement process of the Yellow Line project and ordered fresh…

Original published: 2018-10-11 05:00:00 Read the full Karachi News here

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