The Project envisaged overlay and modernization of 357 km long 6-lane access controlled toll road connecting Lahore and Islamabad cities on BOT basis at a cost of US$ 460 million. Private party was required to finance the project costs from its own resources, operate the Project for a defined concession period and transfer the Project back to National Highway Authority (NHA) at no cost at the end of concession period. The Project’s concession period is 20 years (including 2.5 years construction and 6 months financial close period) and NHA expects to earn US$ 2 billion from the Project over its concession period. The Project was awarded in April 2014 and currently it is in operations phase.