CPEC Phase 2: Pakistan and China to ink over $10 billion new projects
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More than 15 other projects, will be signed between Pakistan and China including the ML-1 under the Belt and Road Forum between Pakistan and China.On October 17th and 18th, MOUs will be signed between the two countries at the Belt and Road Forum in China.
According to sources, on October 17th and 18th, the third Belt and Road Initiative (BRI) forum will be held in China, in which Prime Minister Anwar Haq Kakar will participate in a special invitation from the Chinese government.
At the forum, Pakistan and China will make significant progress in the second phase of the China-Pakistan Economic Corridor (CPEC) by signing agreements on 11 infrastructure, energy, and other projects. Various ministries and the Chinese embassy have completed work on the working papers for these projects.
In addition, Chinese President Xi Jinping and Prime Minister Anwar Haq Kakar will meet and make announcements regarding further cooperation in various sectors of CPEC. CPEC is the first and most important project of the Belt and Road Initiative, which started between China and Pakistan ten years ago.
China has invested more than $30 billion in the project so far. In the second phase of CPEC, projects including ML-1 and Thakot, industry, and energy will be closely examined, and agreements will be signed.
Under the ML-1 project, Pakistan's 1,733-kilometer railway line from Karachi to Peshawar will be upgraded, and a new track will be laid to achieve a speed of 160 kilometers per hour. Multiple railway bridges will be reconstructed near Havelian, and the project is expected to cost up to $6.86 billion."
