ADB and World Bank interested in Pakistan’s ML-1 project — Dawn
The Asian Development Bank and the World Bank have expressed interest in participating in financing the modernization of the 1,800-kilometer ML-1 railway line between Karachi and Peshawar in Pakistan. The revised cost of the project is approximately $6.68–$6.8 billion after Chinese financing was discontinued.
As Dawn reports, Pakistan’s Economic Affairs Division informed the relevant National Assembly committee about ML-1. The Asian Development Bank is being considered the project’s lead financial institution, while the Asian Infrastructure Investment Bank and the World Bank have stated commitments to co-financing.
Financing and cost estimate
The European Investment Bank, the Islamic Development Bank and the Japan International Cooperation Agency have also expressed interest in participating in the project. The total cost of ML-1 was previously estimated at approximately $9 billion, but after a reassessment it was revised to $6.68–$6.8 billion.
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The project provides not only for the restoration and modernization of railway infrastructure, but also for institutional and operational reforms to improve the efficiency, sustainability of operations and quality of services of Pakistan Railways. According to the committee, the project design was reassessed to identify shortcomings and take into account the necessary changes.
Train operating speed
ML-1 infrastructure is designed for train speeds of up to 160 km/h, although the currently planned operating speed is up to 120 km/h. The estimated construction period is about three years.
The parliamentary committee expressed reservations about the proposed operating speed. It stressed that infrastructure and railway operation parameters should be aligned to ensure speeds of up to 160 km/h where technically and economically feasible, and to make fuller use of the capabilities of the modernized railway line.
