LAHORE - The Lahore Transport Company (LTC) is all set to convert its 42-kanal land near Railways Station into a state of the art parking centre, officials told The Nation.

The land is located in the heart of the city. Currently it is used for parking LTC buses and coaches but mostly remains unutilised. Beggars and drug addicts throng the place. It is also used for parking of private companies’ buses and mini wagons.

“The LTC realizing the importance of the area decided to convert the land into a clean, environment friendly parking centre,” sources in LTC said.

“We will construct best hotel, restaurants, cafés, conferences halls, shopping centre, cinemas, private and public parking centre in the complex. It will be a nice recreational place for Lahorites,” he said and added Rs13.5 billion investment was required for the purpose. All social and environmental impact will keep under-consideration before construction of the project, he said.

Millions of people live in the surrounding areas like Landa Bazar, Brandeth Road, Garhi Shahu, Baghwanpura, Usman Ganj and all the area of densely populated areas of northern Lahore do not have access to eat-out with their families or go for entertainment activity. The land is important from business point of view. Being near Lahore Railways Station it will facilitate thousands of commuters for shopping, food and rest.

The LTC officials believed the construction will start in the next year as two Turkish companies have shown interest in investing in this big project.

“It will be a public-private-partnership project and will be built on BOT (build, operate and transfer) basis. The companies have signed an MoU with the LTC.

“LTC is working on its feasibility study and would go for transparent bidding once the study is complete,” sources said.

LTC is waiting for the approval of project from the steering committee.