Saudi Arabia pledges 100 million Riyals for Pakistan's expressway

The Saudi government has pledged 100 million Riyals to fund the construction of the Muzaffarabad-Mansehra Expressway in Pakistan. This initiative by Saudi Arabia is part of their commitment to support infrastructure development in the country. The National Highway Authority has swiftly taken steps to kickstart the project, seeking approval for a revised project cost of Rs.58.8 billion from its executive board.

The revised plan outlines the completion of the expressway in two phases. The first phase, which includes a 3.12km road section and a 1km tunnel, will be funded by the initial 100 million Riyals. The remaining 23.1km stretch, along with a 3.4km road portion, will be financed through a negotiated loan in the second phase. Construction is set to begin in July 2024, with a completion deadline of June 2027.

The Muzaffarabad-Mansehra Expressway is a crucial component of Pakistan's Economic Corridor, connecting key areas and facilitating smoother transportation. The project includes 11 bridges and 2 tunnels along the left bank of the Jhelum and Kunhar rivers. With current traffic data showing 7000 vehicles using the existing route daily, the new expressway is expected to accommodate a significant increase in traffic over the next fifteen years.

This development comes after a recent visit by a Saudi delegation, led by the Kingdom's Foreign Minister, to Pakistan. The visit aimed to strengthen economic ties and accelerate investment projects, with a focus on enhancing bilateral cooperation. The Saudi commitment to expedite investments worth $5 billion was reaffirmed during a meeting between Crown Prince Mohammed bin Salman and Prime Minister Shehbaz Sharif in Makkah.