Rawalpindi Ring Road project will be inaugurated by the PM Imran Khan soon, disclosed by Chairman Rawalpindi Development Authority (RDA) Raja Tariq Murtaza.
Ring Road project will not only improve economic connectivity and road transport efficiency between the twin cities of Islamabad and Rawalpindi but also usher in a new era of development and prosperity in the region, according to him.
Till now, survey of 40 kms Rawalpindi Ring Road (R3) land completed.
Most of the areas of R3 track in tehsils of Rawalpindi & Fateh Jang surveyed. Concrete pegs fixed at 35 km track.
Officials sharing map of the project said that 65.5 KM road would start from Radio Pakistan on National Highway N5 pass through Motorway M2 and merge with Margalla Road in Islamabad near Sangjani.
The project will have interchanges at eight different locations including Radio Pakistan, Rawat, Chak Beli, Adyala, Chakri, M2 Mor, Islamabad International Airport (IIA), and Sangjiani.
Residential zones will be established along Sangjiani, Adiala, Chakri and Chak Beli interchanges.
Fruit & vegetable markets, goods, transport terminals to be part of the project.
It shall be based on Private public partnership another 1st of its kind initiative.
New commercial and industrial zones will create new opportunities for construction and development in the region.
Meanwhile, Rawalpindi Development Authority (RDA) and The Islamabad Chamber of Commerce and Industry (ICCI) have signed a MoU to establish an industrial estate alongside the Rawalpindi Ring Road.
Under this MoU, both the organizations will carry out joint efforts for the development of an industrial estate alongside the Rawalpindi Ring Road (R3) project on Public Private Partnership (PPP) model, to be known as the “ICCI-Islamabad Industrial Estate.”
ICCI president Sardar Yasir Ilyas Khan and RDA Chairman Raja Tariq Mehmood signed the MoU at a ceremony held on December 28th. Deputy Director Finance RDA Muhammad Junaid Taj Bhatti, Senior Vice President Fatma Azim, Vice President ICCI Abdul Rehman Khan, Convener ICCI Committee on New Islamabad Industrial Estate Khalid Javed, Chairman Founder Group Mian Akram Farid and others were present in the ceremony.
As per the MoU, ICCI will be responsible for arranging the preparation of technical and financial feasibility for the project and submit those to Rawalpindi Development Authority (RDA) for evaluation and approval. ICCI will also help in getting partial funding for land acquisition for industrial estate, whereas RDA will acquire the required land from the landowners and allot industrial plots to the investors who will be providing funding for the acquisition of land.
Furthermore, ICCI in consultation with RDA will help finalize SOPs and modalities for sale and purchase of plots in the industrial estate. RDA will acquire land for the Industrial Estate and will get notified of the land acquired from the Government of Punjab. RDA will also negotiate with the Punjab Board of Investment to get approval for the ICCI Industrial Estate under Special Economic Zone (SEZ) model and will be responsible for creating its master plan in consultation with ICCI which, after finalization, will be proposed to the potential investors.