Posted on April 22, 2018 at 01:00 PM
The China Pakistan Economic Corridor (CPEC) is an ongoing development mega project which will connect Gwadar port of Pakistan to Xinjiang of China via a network of railways, highway and pipelines. 2018 will be the year of planning and development for the future of CPEC until 2030. CPEC projects are entering a new phase of road construction and energy projects and it will shift it to industrialization and long-term financial agreements between Pakistan and China. The investment in CPEC projects will transform and modify the economic corridor into the regional hub. The China Pakistan Economic Corridor is a confidence booster for foreign investors.
PM Abbasi and Chinese Govt discussed Karachi Circular railway and Mainline-1, which are defined as strategically important projects to complete it soon. As well up-gradation of the railway line from Peshawar to Karachi. The mainline-1 will be completed with the cost of $8.130 billion and the project will be completed in 2018.
The government of Pakistan focused and decided to increase the cooperation on industrial zones which will be established in Punjab, KPK, Sindh and Balochistan. Through the up-gradation of the train line, the speed will be doubled by 80 Km to 160Km per hour.
Moreover, the signalling and control system of railway system will be modified whereas the safety system will be upgraded. After the project completion, import-export will be increased from five to 25 million tonnes per annum from 55 to 88 million passengers per annum.
The feasibility report was shared with the government which shows that 22 projects were started under China Pakistan Economic Corridor with the total cost of $22 billion and 15 projects having the cost of $22 billion were related to energy sectors.
One of the most prominent and most awaited projects is Orange line metro transit with the total cost of $2 billion. In the energy sector port, Qasim project is under construction with the total generation capacity of 1320 MW and will be commercial before June 2018. Gwadar International Airport road is under construction with the cost of $260 million grant money and this project will be completed in 2019.
Higher Education Commission of Pakistan to build Education city in Gwadar. It will facilitate all type of students from Balochistan and whole Pakistan. It will be the ideal education city in Gwadar. Under the China Pakistan Economic Corridor Hydel power projects along the Jehlum river and it is expected to generate 1300 MW. Govt planned to develop solar and power sectors as well. A solar project is planned to produce 1000 MW electricity, meanwhile, wind energy projects are under development and to generate 300 megawatts electricity.
Surface mine block II of Thar coalfield is under development and will be completed in 2018 and 2019. Pakistan wind farm is another wind project and expected to complete in 2018 with the total production of 100 megawatts in Jhampir, Thatta, Sindh. Engro Thar coal-fired power plant is under construction and will be completed in 2019.
Gaddani power plant with the production capacity Industrial development and cooperation under CPEC: Board Of Investments is an active member that is working on Industrial parks and industrial zones which are responsible to identify the potential sites for industrial parks and SEZ's. BOI provides the assistance throughout the investment cycle. Board of Investment welcomes Chinese, local, overseas Pakistani and foreign investors in Pakistan under CPEC.