A high-level Chinese delegation is scheduled to arrive here on Monday to discuss various development projects related to Pak-China Economic Corridor, it is learnt. Well-placed sources revealed to Business Recorder that both sides would sit together to prepare a joint feasibility for the development projects pertaining to Pak-China Economic Corridor and may finalise roads, ports and shipping and Pakistan Railways ventures for investment.
China has shown interest in investing up to $4 billion in Pakistan Railways, including $3.5 billion on main line from Peshawar to Karachi and $500 million on Hawailian railway project, sources added. Two projects regarding the Economic Corridor were approved in the second meeting of the Joint Co-operation Committee (JCC) of Pak-China Economic Corridor including the Karakoram Highway and Multan-Sukkur portion of road held in February in China. China State Construction Engineering Corporation and Frontier Works Organisation of Pakistan would jointly undertake these two projects. A new road link from Islamabad to Khunjerab would also be constructed under Pak-China Economic Corridor.
China has also approved nine projects worth $1.8 billion in a bid to fully operate Gwadar Port, which would be completed in next 2-3 years, sources added. China has prepared its master plan for Gwadar Port where five companies are ready to invest however all this would be possible after handing over the remaining free zone area of the port, said sources.