KUTC takes first step towards KCR by registering as company
KUTC takes first step towards KCR by registering as company
By Atif Khan
ISLAMABAD: The Karachi Urban Transport Corporation (KUTC) has applied for registration as a company to the Securities and Exchange Commission of Pakistan (SECP) Karachi in a first step to revive the 60-billion rupee Karachi Circular Railway (KCR).According to Pakistan Railway (PR) officials, they have committed to complete the controversial and delayed project by 2011. They said Wilson Railway submitted a revalidation report of the KCR last month and this month a meeting of the steering committee under the chairman of the Railways, Kashif Murtaza, will be held with member Finance, member Technical, Assistant General Manager, Infrastructure and Business Unit (IBU) would assess and examine the study.Railway officials said that an Environment Impact Study would be carried out site to site if the steering committee is satisfied with the report. The PC-1 of the project would be initiated and at the same time a request for a loan of $872 million would also be submitted to the Japanese government.Officials hoped the loan would be a soft one, as these types of railway projects do not fall in the category of commercial projects. If all goes well, the KCR project would be completed in 30 to 36 months.The KCR was opened in two phases for traffic in 1964 and 1970. It originated from Drigh Road Station on a main line and after crossing Sharah-e-Faisal short of the airport it passed through the populated areas of Gulistan-e-Johar, Liaqatabad, Nazimabad, SITE, Baldia, Lyari, Kharadar, Mithadar, and finally it touched Karachi City Station. The KCR had 16 stations, 22 level crossings and a 29.32-kilometre route.In 2002, the Sindh government initiated a master plan for its revival in three phases but it lost pace due to a lack of political will. President Pervez Musharraf ordered the revival of the KCR within two years in 2004, (i.e. by 2006). In 2005, the plan for a complete revival was shelved for another two years after a team of the Japan External Trade Organisation (JETRO) submitted a feasibility study at an estimated cost of $830 million (Rs 49.22 billion). According to Railway officials, the new 50 km KCR will have 21 underpasses and overhead bridges and 23 different stations within Karachi city. The KCR would carry 700,000 passengers daily on 246 trains, which would carry 1,236 passengers, each. Moreover, its track will be of an international standard and the trains will be available at each terminal after three minutes.
http://www.dailytimes.com.pk/default.asp?page=2008\05\18\story_18-5-2008_pg12_11
By Atif Khan
ISLAMABAD: The Karachi Urban Transport Corporation (KUTC) has applied for registration as a company to the Securities and Exchange Commission of Pakistan (SECP) Karachi in a first step to revive the 60-billion rupee Karachi Circular Railway (KCR).According to Pakistan Railway (PR) officials, they have committed to complete the controversial and delayed project by 2011. They said Wilson Railway submitted a revalidation report of the KCR last month and this month a meeting of the steering committee under the chairman of the Railways, Kashif Murtaza, will be held with member Finance, member Technical, Assistant General Manager, Infrastructure and Business Unit (IBU) would assess and examine the study.Railway officials said that an Environment Impact Study would be carried out site to site if the steering committee is satisfied with the report. The PC-1 of the project would be initiated and at the same time a request for a loan of $872 million would also be submitted to the Japanese government.Officials hoped the loan would be a soft one, as these types of railway projects do not fall in the category of commercial projects. If all goes well, the KCR project would be completed in 30 to 36 months.The KCR was opened in two phases for traffic in 1964 and 1970. It originated from Drigh Road Station on a main line and after crossing Sharah-e-Faisal short of the airport it passed through the populated areas of Gulistan-e-Johar, Liaqatabad, Nazimabad, SITE, Baldia, Lyari, Kharadar, Mithadar, and finally it touched Karachi City Station. The KCR had 16 stations, 22 level crossings and a 29.32-kilometre route.In 2002, the Sindh government initiated a master plan for its revival in three phases but it lost pace due to a lack of political will. President Pervez Musharraf ordered the revival of the KCR within two years in 2004, (i.e. by 2006). In 2005, the plan for a complete revival was shelved for another two years after a team of the Japan External Trade Organisation (JETRO) submitted a feasibility study at an estimated cost of $830 million (Rs 49.22 billion). According to Railway officials, the new 50 km KCR will have 21 underpasses and overhead bridges and 23 different stations within Karachi city. The KCR would carry 700,000 passengers daily on 246 trains, which would carry 1,236 passengers, each. Moreover, its track will be of an international standard and the trains will be available at each terminal after three minutes.
http://www.dailytimes.com.pk/default.asp?page=2008\05\18\story_18-5-2008_pg12_11
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