First phase of CPEC to be completed by 2017

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The first phase of the China-Pakistan Economic Corridor (CPEC) comprising energy projects would be completed by December next year.

Chinese companies involved in the project are working tirelessly to complete energy projects in time, aimed at generating about 10,000MW of electricity, an official of the planning ministry said on Monday.

Coal-based power plants of about 6,600MW will also be installed in Thar in order to tap coal reserves in the area, and turn it into a power capital for Pakistan.The early harvest projects under CPEC are expected to bring rapid socio-economic changes in the country, the official added.

According to the official, western routes are being developed to bring underdeveloped areas of Balochistan at par with the developed ones.  Earlier on January 24, ports and shipping minister Kamran Michael said the government expected 2016 to be the take-off year for CPEC and Gwadar port, with a 100% increase in cargo-handling and start of the free economic zone.

Pakistan and China signed an agreement on April 20 last year to commence work on CPEC development projects worth over $46 billion, which comes to roughly 20 per cent of Pakistan’s annual GDP.  The corridor aims to connect Gwadar port in Balochistan to China’s Xinjiang region via a network of highways, railways and pipelines spread over 3,000km.

Courtesy: Radio Pakistan