Rehabilitation of ML-1 project: ADB likely to approve USD1.2bn financing

The Asian Development Bank (ADB) is likely to approve a financing facility of around USD 1.2 billion for the rehabilitation of Pakistan Railways’ Main Line-1 (ML-1) project from Karachi to Rohri section, for which the bank is also planning to bring in other development partners as co-financiers. This was revealed by well-placed sources while talking to Business Recorder. Speaking about ADB-supported regional connectivity projects under the CAREC framework, sources said the feasibility work for the Karachi-Rohri section was currently under preparation. The project is being positioned as one of the bank’s flagship connectivity initiatives in Pakistan, linking the critical minerals value chain for exports.