Assignment Name:
Detailed Transport & Financial Study for Karachi – Hyderabad Motorway (M-9) under BOT Arrangement


Location within Country:

Karachi & Adjoining Areas

Name of Client:

Bina Puri Pakistan (Pvt.) Limited

Completion Date:

July 2012

Name of Associated Consultants, if any:


Narrative Description of Project:

Karachi – Hyderabad Motorway (M-9) is one of the most travelled highways in Pakistan. In April 2102, it was recorded that about 25,000 vehicles (all modes – both directions) passed through it per day at Karachi Toll Plaza. The total road length between Karachi & Hyderabad is 136 km. National Highway Authority (NHA) has signed a Concession Agreement (C.A.) with Bina Puri Holding, Malaysia for Karachi – Hyderabad Motorway (M-9) under BOT Arrangement. The concession agreement was signed in January 2012 after which Bina Puri Holding has to start their operations within 6 months i.e. from July 2012. Bina Puri Holding, Malaysia was to add an additional lane on either side of the road, road fencing, develop interchanges, toll plazas prepare access roads etc under CA. The total expected cost of these activities is PKR 24,000 million. Additionally, NHA had also assured certain minimum traffic guarantee in their C.A. The road is currently tolled as National Highway standard however, the up gradation would allow Bina Puri to escalate the toll structure at the level of Motorways in Pakistan.

Description of Actual Services Provided by Our Staff within the Assignment:

For the above project the following was the scope of work and activities for EE:
  • Description of Actual Services provided by your staff within the assignment:
  • For the above project the following was the scope of work and activities for EE:
  • Review previous traffic studies as well as other relevant documentation including the proposed route alignment and toll plaza locations;
  • Undertake primary data collection by conducting midblock traffic counts, turning movement counts, origin-destination, willingness to pay, travel time and road condition surveys. These are to include, at least, the following: -
  • Traffic counts surveys at road midblock to identify traffic movement volumes.
  • Turning movement counts to estimate number of lanes requirement for geometric design of interchanges.
  • Passenger occupancy surveys for estimating number of persons travelling and assisting in network calibration at demand modeling stage.
  • Roadside interview surveys for development of OD Matrices for macro modeling.
  • Travel speed surveys, to determine the level of service on highways in the network.
  • Road condition surveys to determine the current length, width of highway and other parameters for estimation of road capacities within the study area corridor.
  • Undertake other relevant surveys and compile the analyses and results;
  • Undertake site visits and discuss with the relevant authorities to identify and review local planning information, socio-economic / land use plan development data, population and vehicle ownership growth within the study corridor;
  • Validate socio-economic baseline data, that are readily available from previous studies;
  • Estimate number of lanes required at new interchanges locations.
  • Review toll rates excitingly prevailing on M-9 and other roads of NHA and corroborate already agreed toll rates with NHA during concession period.
  • Develop 4-stage traffic demand model for the study corridor using JICA STRADA with acceptable level of calibration.
  • Perform policy testing depicting various possible scenarios of operations using the demand model.
  • Estimating expected traffic diversion under agreed toll rates.
  • Perform detailed financial modeling with following covering the following:
  • Preparation of financial and operational assumptions of the project.
  • Development of financial model of the project.
  • Carrying out sensitivity analysis of the project based on projected financial and hypotheses for key variable factors.
  • Preparation of projected financial statements during concession period.
  • Preparation of Project Information Memorandum (PIM) based on technical and financial feasibility of the project.
  • Business advisory services for routine and non-routine financial, operational, corporate/secretarial and tax matters.
  • Assistance to client for appointment of lead arranger for fund raising
  • Assistance to banks with respect to potential transaction structuring for fund raising.
  • Liaison with Client, Banks and other stakeholders for getting desired approvals for fund raising.
  • Assistance to clients in implementation of financing structure.

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