Minister reviews progress over KCCDZ project

ISLAMABAD: The Ministry of Planning, Development and Special Initiatives reviewed the progress over multibillion-dollar Karachi Coastal Comprehensive Development Zone (KCCDZ) project for industrial cooperation at an estimated cost of $3.1 billion which is close to Rs878.85 billion under the China-Pakistan Economic Corridor (CPEC).

The multibillion-dollar project will focus on developing infrastructure to improve the port of Karachi by adding new berths and building a bridge to connect an island and a beach with Pakistan’s Deepwater Port. The project would be completed with the investment of the Chinese without getting any loan.

The Federal Minister for Planning Development and Special Initiatives, on Friday, chaired a meeting to review progress over the KCCDZ.

The meeting was attended by the Federal Minister for Maritime Affairs, Secretary Maritime Affairs, Secretary Board of Investment, Chief Economist and PD CPEC, CEO P3A, and senior officials from the CPEC Secretariat, Karachi Port Trust and the government of Sindh.

In accordance with the instructions of the Federal Planning Minister, a high-level committee under the chairmanship of secretary Maritime Affairs, with all relevant stakeholders including Government of Sindh, has also been constituted for the formulation of an action plan and firming up of timelines of the Project so as to be a deliverable for 12th JCC, being scheduled in July 2023.

The KCCDZ is the new project that has been added to the projects of CPEC with the aim to provide the city with an ultramodern infrastructure and place it among the best port cities in the world.

The mega-development project is planned to improve the coastline of Karachi and attract foreign investors to Pakistan.

The project would be completed in different phases that will together give a huge boost to the economy as well as the well-being of the people of Karachi. The different phases of the project include (i) development of new berths for KPT; (ii) development of new fishery port; (iii) development of a harbour bridge; (iv) development of new low-cost housing units, and (v) open gates to being a blue economy etc.

The KCCDZ, spreading over 687 hectares, is being conceived to be an international business bay area, future high-tech knowledge-economy sectors, hub for global young talents and entrepreneurs, showcase of world class waterfront lifestyle, to be located around western backwater area of Karachi Port.

The scope of the project also includes Karachi new industrial city, external connection roads, breakwaters and coastal bridge, cruise terminal, seawater desalination plants, and environment improvement works.

The Karachi Port Trust through the Ministry of Maritime Affairs is the leading federal organisation for executing the project in consultation with all stakeholders.

Copyright Business Recorder, 2023