KARACHI: Over 20,000 low-cost houses to be developed under the China Pakistan Economic Corridor’s (CPEC) Karachi Coastal Comprehensive Development Zone (KCCDZ) launched by the government.
The flagship project is located on the western backwaters marshland of the Karachi Port Trust (KPT) will provide homes for the families residing in slums living in the surroundings.
The project sprawling on 1,581 acres was announced after the 10th Joint Cooperation Committee (JCC) on CPEC, co-chaired by Pakistan’s Minister for Planning, Development and Special Initiatives, Mr. Asad Umar, and China’s Vice-Chairman of the National Development and Reform Commission Mr. Ning Jizhe.
Deemed as a game-changer by transforming the provincial capital, the multi-billion dollar project is expected to attract US$3.5 billion Chinese investment.
The environment-friendly project – an initiative of the Ministry of Maritimes Affairs is set to feature four new berths for KPT, a modern fishery port, and a majestic harbor bridge connecting it with Manora Islands and Sandspit beach.
The authorities will also work to set up an international level fisheries export processing zone and a water treatment plant to restore the marine ecosystem and reduce pollution, it was reported.
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