Paksitans First BOT Project in Road Communication Works
What is BOT?
BOT stands for Built Operate and Transfer. It means contractual agreement whereby the RBOC (Road Building and Operating Company) undertakes the design, construction incliding financing of the road, operations, maintenance and transfer tereof as per concession agreement. This concessiong measn the exclusive rights and authority awarded by the governmetn to the RBOC to levy, demand, collect toll apart from various other assignments. The facility is returned to the government in a good maintained condition at the exporty of the concession period. Government does not have spend funds on the project. The funds thus svaed are made available for other developmetn works.
Project Location:
The Project "Lahore- Sheikhupura- Faisalabad Dual Carriageway" starts from Begumkot (about 6 Kilometer away from Shahdrah, Lahore) and ends at Km. 115.5 near Faisalabad. The total length of project is 115.5 Kilometer). Dilapidated and distressed condition of existing road and inadequate width lead to severe traffic congestion problems resulting in frequent road accidents and inconvenience to communities increase in travel time and vehicles operating cost thereby loss to national economy.
Project Necessity:
The existing section between Lahore and Sheikhupura was a four-lane dual carriageway accommodating about 19,000 vehicles per day. However, its poor condition warranted improvement. The Section between Sheikhupura and Faisalabad was a single carriageway, which needed dualization on account of increase traffic volume on urgent basis to take rapidly growing industrial traffic along this road.
What is LAFCO?
Formation process of M/s Lahore And Faisalabad Construction Company (LAFCO) (Private) Limited started with its first meeting of Partners on 16 February 2002. The Company is a joint venture of Frontier Works Organization (FWO), M/s Khalid Rauf & Co. (Pvt) Ltd, M/s Habib Rafiq (Pvt) Ltd and M/s Sachal Engineering Works (Pvt) Ltd and it was registered with Securities of Exchange Commission of Pakistan in July 2002.