Sindh government has decided to approach the federal government for building the long-awaited Karachi Circular Railways (KCR) under China-Pakistan Economic Corridor (CPEC).
Secretary Transport Taha Farooqui on Tuesday briefed the chief minister at meeting that the length of the project is 43.12km with 23.86km elevated, 3.7km tunnel and 15.56km surface. It would have 24 stations and the projected passengers per day would be around 0.58 million and the designed speed would be 100 kilometres per hour.
It is noteworthy to mention here that JICA is considering providing soft term loan on a mark-up of 0.1 percent repayable in 40 years, including 10-year grace period.
The chief minister was informed that the stakeholders with the equity shares are Ministry of Railways 60 percent, Sindh government 25 percent and KMC 15 percent. JICA has carried out a study `Special Assistance for Project Formulation (SAPROF-1) during November 2008 to February 2009 and furnished its report in May 2009.
On the basis of the report, PC-I was prepared and approved by Planning Commission of Pakistan in ECNEC meeting held on September 3, 2009. Environmental Impact Assessment (EIA) of the project was carried out and approved by EPA on July 4, 2009.
Third party validation of feasibility study was done by M/s Louis Berger USA. Resettlement Action Plan (RAP) of the project affectees was commenced in May 2009 and completed in 2011. “I am writing a letter to the prime minister in this regard as he is supportive,” the chief minister said .
The secretary said Karachi Urban Transport Corporation (KUTS) has been formed to implementation of the project.