The expressway stretches from Nowshera to Chakdara in Lower Dir District, passing through Swabi, Mardan, Malakand and Swat districts. The project was inaugurated in August 2016 and partially opened for traffic on 3 June 2019. Upon completion of the expressway, travel time from Nowshera to Chakdara will reduce from three hours to one hour. The Swat expressway was constructed by the Frontier Works Organization at a cost of ₨36 billion (US$220 million). The Asian Development Bank and China provided the principal technical and financial assistance for the project, while Saudi Arabia pledged ₨3.4 billion (US$21 million). Phase two of the expressway will extend another 79 kilometers to the north and terminate at Fatehpur. On 16 July 2020, ECNEC approves land acquisition for Swat Motorway PhaseII at a cost of Rs20bn.

The Khyber Pakhtunkhwa government allocated ₨70 billion (US$420 million) for the extension.

The Swat Expressway should not be confused with the E90 Expressway (Besham–Khwazakhela Expressway) proposed by the National Highway Authority, which also terminates in Swat.
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