China-Pak Economic Corridor is considered a revolutionary project for Pakistan. Let’s dive into it
The China-Pakistan Economic Corridor often known as CPEC is a project aiming at regional development, to reduce and secure routes for Chinese energy imports. After completing this corridor, the 12000 KM long route for oil transportation to China will be decreased to 2395 KM.
CPEC’s vision is to uplift the living standards of the people of China and Pakistan by establishing an economic corridor that enhances opportunities for bilateral investment, connectivity, and trade. It also includes Human Resources Development, Financial Cooperation, Enhanced tourism, and Socioeconomic development. This project was proposed in 2013 and became partially operational in 2016. Initially, its worth was $46bn but increased to $62bn in 2020. China foresees swift gradation of Pakistan’s required infrastructure including energy networks special economic zones and modern transportation networks. Some important projects are given below:
- Gwadar Projects
- Gwadar Port
- East Bay Expressway
- Pak-China Friendship Hospital
- New Gwadar International Airport
- Pak China: Road and Railway Projects
- Pak China: Energy Projects
- Some Special Economic Zones
This is a major project among Gwadar projects worth $ 300 million. Phase I has been completed and Phase II is under construction. Hence shows the status of partial completion.
East Bay Expressway
The worth of this project is $ 179 million. It has been completed and inaugurated on 03 June 2022.
Pak-China Friendship Hospital
The project worth $ 100 million is under construction and is expected to complete in December 2022.
New Gwadar International Airport
Construction work was started in 2019 and its estimated year of completion is 2023. The total worth of this project is $ 230 million.
Pak China: Road and Railway Projects
This 193 km long land route worth Rs. 13 billion was completed in 2016. It connects central, eastern, and western CPEC routes with Gwadar Port.
Abdul Hakeem-Lahore Motorway (M-3)
The length of this motorway is 230KM and it was completed in 2019.
Orange Line (Lahore Metro)
27KM long road of worth $1626million has been completed in 2020.
Pak China: Energy Projects
Port Qasim Power Project
Its production capacity is 1320MW. The project worth $ 1912 million has been completed in 2018.
Kohala Hydropower Project
The estimated worth of this project is $ 2400 million. Its production capacity is 1100MW. This project is expected to be completed in 2026.
Sahiwal Coal Power Project
The project’s capacity is 1320MW and it was completed in 2017. Its total worth is $ 1912 million.
Some Special Economic Zones
Rashakai Economic Zone
This SEZ was rolled out in Khebr Pakhtunkhwa in 2021. Its total area is 702 acres.
Allama Iqbal City Faisalabad
The area of this economic zone is 3217 acres. Many companies have started construction work.
Bostan Industrial Zone
Its area is 1000 acres and the phase is ready to allot industrial plots.