CHINA-PAKISTAN ECONOMIC CORRIDOR (CPEC)

CPEC is an under-construction development megaproject to connect Gwadar Port of Pakistan to Chin'a northwest autonomous region of Xinjiang via highways, railways and pipelines to transport oil & gas. The economic corridor will run about 3,000 km from Gwadar to Kashgar. The corridor would transform Pakistan into a regional hub and give China a shorter and cheaper route for trade with much of Asia, the Middle East and Africa. Chinese president Xi Jinping visit Pakistan on April 20th 2015, Pakistan and China rolled out of US$46 billion portfolio agreed under CPEC. Both signed agreements worth US$28 billion to immediately kick-start early harvest projects, while projects worth US$18 billion, which are in the pipeline, will follow as soon as required studies, processes and formalities are completed.

March 2017 Updates:

The magnitude of projects swelled from US$46 billion to US$62 billion upon further addition of project under the umbrella. Following are few major projects recently added under CPEC

  • Karachi Circular Railway
  • Mass transit projects for Quetta and Peshawar
  • Thar Coal based power plant at Keti Bandar
  • Special Economic Zone at Dhabeji
  • Establishment of various industrial zones