Saarc states to seek investment from others

FE Team | Published: November 30, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

The Saarc member states will be pitching for investments in ambitious rail, road and waterway projects proposed for the region by reaching out to the member states, observers and other bilateral and multilateral donors.
A significant progress was made in the proposed Saarc Motor Vehicles and Railway Agreements during the 18th Saarc Summit that concluded in Kathmandu on Thursday, giving a much-needed impetus towards realising the projects aimed at connecting South Asia, Muncha reported on Saturday, reports BSS.
The report said the Saarc countries have agreed to hold a meeting of their transport ministers within three months to finalise the agreements for approval.
Soon after the nod, the Saarc Secretariat will initiate talks with the observers and other financial partners for investment, said an official at the Secretariat.
Besides linking the region, the proposed projects would also link central and South Asia and beyond by all modes of connectivity.
Noting that many companies have expressed their interest to invest in hydropower projects after the signing of the Power Trade Agreement between Nepal and India, an official said there would be no shortfall of investors once the agreement is finalised for Saarc regional 0connectivity projects.
The official added that China, European Union (EU), and the USA are particularly interested to make the investments.
"They have approached us several times in the past, enquiring about the projects. But we could not assure them anything since the agreements have not yet been finalised," he said.
Senior officials at the Saarc Secretariat said that they would soon be leaving for Japan and South Korea, two Saarc observers, to discuss the projects and other possible areas of cooperation in the Saarc region.
The secretariat, in association with the Asian Development Bank (ADB), has already conducted a comprehensive study to link the least integrated region in the world.
The study has proposed 10 regional road networks: South Asian Corridor (SAC-1) linking Lahore (Pakistan)-New Delhi-Kolkota Petrapole/Benapole (India)-Dhaka-Agratala; SAC-2 linking Kathmandu-Birgunj/Raxual-Kolota-Haldia; SAC-3 linking Thimphu-Phuenstholing-Jaigon-Kolkota/Haldia; SAC-4 linking Kathmandu-Kakadbhitta-Phulbari-Banglabandh-Mongla/Chittagon; SAC-5 linking Sandrop Jongkhar (Bhutan)-Guwahati- Shillong-Sylhet-Dhaka-Kolkota; SAC-6 linking Agaratala-Akhaura- Chittagong; SAC-7 linking Thimphu-Phuenstholing-Jaigon-Burimari- Mongla/Chittagong; SAC-8 linking Kathmandu-Nepalganj-New Delhi-Lahore-Karachi; SAC-9 linking Maldha (India)-Shibganj-Jamuna bridge (Bangladesh); and SAC-10 linking Kathmandu-Bhairahawa-New Delhi-Lucknow.
On rail connectivity, the member states have proposed building five rail networks.
According to the proposal, the first corridor will begin from Lahore (Pakistan) to Delhi and Kolkota of India via Dhaka to Mahisahan to Imphal (India). The second corridor will connect Karachi-Hyderabad-Khokarapar-Munabao-Barmer-Jodhpur of India.