Financing plan of mega projects under CPEC to be discussed in 9th JCC

ISLAMABAD: The formal negotiations on the expansion and reconstruction of the Karachi-Peshawar Line (ML-1) will be discussed in the upcoming 9th joint cooperation committee (JCC) on CPEC, which will be held in Islamabad on November 6.

Along with deliberations on the western route of the corridor, other projects to be discussed include agriculture, energy, housing and tourism.

While addressing a press conference earlier, the Federal Minister for Planning, Development and Reforms Makhdum Khusro Bakhtyar said that arriving for the inauguration of 300 MW power plant, Vice Chairman of National Development and Reform Commission (NDRC) of China would be taken to Gwadar on November 4 (today).

To further speed up the progress on free trade zone and airport at Gwadar, concession agreements have been signed.

The joint press conference was attended by Energy Minister Omar Ayub Khan, Railway Minister Shaikh Rasheed Ahmad and Special Assistants on Petroleum and information Nadeem Babar and Firdous Ashiq Awan.

Under the ML-1 project of CPEC, a railway track of 1872-km from Karachi to Peshawar will be replaced. The financing plans will be discussed under the formal negotiations after a feasibility study of the ML-1 project is submitted, which will be finalised as the government will hire an International consultant for firming up the final cost estimation of the project.

The completion of the project will take about 7 years.

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