Home / World / Pakistan Clears $7.2 Billion Railway Project Linking It with China
Pakistan clears $7.2 billion railway project linking it with China

Pakistan Clears $7.2 Billion Railway Project Linking It with China

ISLAMABAD – Pakistan approved a $7.2 billion rail line upgrade project between Peshawar and Karachi under the China-Pakistan Economic Corridor (CPEC).
The approval of the project to upgrade the 1,872 km long railway line from Peshawar to Karachi is a great milestone for the second phase of CPEC, said Lt. Gen. Asim Saleem Bajwa, chairman of the CPEC Authority.
The main railway will connect the city of Kashgar, in southern China, with the port of Gwadar, on the southwest coast of the province of Balochistan. Chinese President Xi Jinping will open the project during his next visit to Pakistan.
The project includes the modernization of the railway that stretches from the north-west of Peshawar to the south of Karachi, with a length of 1,872 km, and an increase in the speed of passenger trains from 110 to 160 km per hour.
Bajwa added that the approval paved the way for final negotiations with China to finance the project with the knowledge of the International Monetary Fund (IMF), while the World Bank (WB) linked the success of the project with the implementation of governance reforms on the railways.
(Sahar News Monitoring Desk)

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