Pakistan and China kicked off their ambitious $46 billion China- Pakistan economic corridor (CPEC) project.
- Beijing was handed over 2,000 acres of land in Balochistan to develop the strategic Gwadar port, providing the Communist-giant an opening to the Arabian Sea.
- As a part of project, China is expected to invest $1.62 billion in the Gwadar project, including construction of an expressway linking the harbour and coastline, a rail link, breakwater and other nine projects expected to be completed in 3-5 years.
About CPEC:
The China–Pakistan Economic Corridor (CPEC) is an ongoing development megaproject which aims to connect Gwadar Port in Pakistan to China via network of highways, railways and pipelines to transport oil and gas.
The China–Pakistan Economic Corridor (CPEC) is an ongoing development megaproject which aims to connect Gwadar Port in Pakistan to China via network of highways, railways and pipelines to transport oil and gas.
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