Islamabad: In a significant development, a key company of the 7-Star Group, M/s 7-Star and Co. (Private) Limited, has been declared financially incapable of meeting the working capital requirement by the National Highway Authority (NHA).
The construction company was among the bidders competing for the Rs4.08 billion contract for the improvement and rehabilitation of G.T. Road from T-Chowk to Banth Moor, the eastern starting point of the Rawalpindi Ring Road.
However, during the technical evaluation, the NHA found that the company did not have sufficient working capital to meet the project requirements and subsequently declared its joint venture technically disqualified.
A total of five firms/joint ventures participated in the bidding process, including M/s 7-Star and Co. JV with M/s Fast Track Construction, M/s Muhammad Asad Constructors JV with M/s Highway Construction, M/s NPI Construction and Engineering, M/s Umer Jan and Company, and M/s MATRACON Pakistan (Private) Limited.
According to the technical evaluation, M/s 7-Star and Co. JV with M/s Fast Track Construction was disqualified due to insufficient working capital.
The total estimated cost of the project is Rs 4.08 billion. Under the project, the existing two-lane highway will be upgraded into a four-lane dual carriageway, while service roads will also be constructed on both sides of the road.
The project is aimed at improving connectivity between T-Chowk and Banth Moor, which links the G.T. Road with the eastern starting point of the Rawalpindi Ring Road.
