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Work on KCR project on track: official - Pakistan

This file photo shows a KCR train at Rawalpindi Railway Station. White Star/File
ISLAMABAD: The feasibility study of the Karachi Circular Railway (KCR) project is on track as per the timelines assigned by the ministry of railways, and will be completed by the middle of August, Railways Chairman and Secretary Habibur Rehman Gilani said on Monday.
He was speaking at a meeting which reviewed the present status of the preparation and processing of KCR. The meeting was informed that feasibility of the railways freight corridor project has been completed.
Keeping in view the importance of the KCR flagship initiative of the government, which should be a modern urban rail-based mass transit project, the meeting presided over by Planning and Development Minister Asad Umer, decided that a separate project be prepared for the civil structure of KCR for completing the project on a fast track basis. ....

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Govt to take loan in RMB, dollar ML-I

Pakistan agrees to borrow $6b for ML-I railway project in both Chinese, US currencies
The ML-I project includes dualisation and upgrading of the 1,872km railway track from Peshawar to Karachi and is a major milestone for the second phase of CPEC. PHOTO: FILE
ISLAMABAD:
Pakistan has agreed to borrow $6 billion in both Chinese and US currencies for the largest project of China-Pakistan Economic Corridor (CPEC) and has also softened its position on interest cost, as it seeks early finalisation of a deal to start construction on the rail project.
The government shared a revised loan term sheet with Beijing three weeks ago for securing the loan for Mainline-I (ML-I) project of Pakistan Railways, changing its position on interest rate and loan currency, said officials in the Ministry of Railways. ....

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