Pakistan and China to Forge $7 Billion Railway Project Amidst CPEC Expansion
Pakistan and China are joining forces to establish a $7 billion railway project as part of the China-Pakistan Economic Corridor (CPEC) second phase. The initiative includes a 1,700-km Karachi-Peshawar railway line and aligns with the Belt and Road Initiative, involving multiple financiers for robust infrastructural growth.
- Country:
- Pakistan
In a significant move to bolster infrastructure, Pakistan and China have announced an ambitious $7 billion railway project tied to the controversial China-Pakistan Economic Corridor (CPEC) initiative.
Planning and Development Minister Ahsan Iqbal revealed that the agreement was made during Prime Minister Shehbaz Sharif's recent visit to China. The project will see a consortium of financiers, including the Asian Development Bank and the Asian Infrastructure Investment Bank, step in to support the 1,700-km Karachi-Peshawar railway line.
Aligned with the Belt and Road Initiative, the effort aims to deepen bilateral connections, even as India vocally opposes the route passing through Pakistan-occupied Kashmir. This marks the second stage of CPEC's expansive vision between 2025 and 2029.
(With inputs from agencies.)
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- CPEC
- Pakistan
- China
- Railway
- Belt and Road
- Infrastructure
- Karachi-Peshawar
- Financing
- India
- BRI
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