Lahore: The Lahore Ring Road Authority (LRRA) is mulling over the establishment of a ‘Goods and Logistics Hub’ economic zone along the Lahore Ring Road (LRR) in a bid to generate revenue for the construction of the final stretch of LRR’s Southern Loop 4 (SL4), a news source reported.
The authority is currently working on a financial model for this purpose. According to details, LRRA will consider any bid from a land developer having more than 2,000 kanals of consolidated land along the route of SL4; between Maraka, Multan Road and Nazar Labana, M3 Motorway.
The authority plans on developing the loop on a public-private partnership (PPP) basis. The developer is expected to receive share in the LRRA equity in the construction of SL4. In return, the authority will help the developer establish the commercial zone.
LRRA will also provide a special interchange to the commercial zone from the ring road. This would be the first commercial zone alongside the China-Pakistan Economic Corridor (CPEC) in Lahore.