China-Pakistan Economic Corridor (CPEC)
0 comments | by special news on April 02 , 2016
China-Pakistan Economic Corridor (CPEC) Coverage of China-Pakistan economic corridor (CPEC) a mega project of USD 45+ billion between Pakistan and China. Learn about the Economic Corridor CPEC with latest news, updates and wiki information on Pakistan Times. China-Pakistan economic corridor (CPEC) is a mega project of USD 45+ billion taking the bilateral relationship between Pakistan and China to new heights. The project is the beginning of a journey of prosperity of Pakistan and China’s Xinjiang. The economic corridor is about 3000 Kilometres long consisting of highways, railways and pipelines that will connect China’s Xinjiang province to rest of the world through Pakistan’s Gwadar port. It is no secret that Pak-China bilateral relations have been strong since the beginning. Pak-China economic corridor is the latest megaproject between these two countries which will help to connect the port city Gwadar to the Chinese region Xinjiang. This project will help to strengthen the relationship between two countries and will also bring prosperity to the region. Pakistan has been in constant attack from certain terrorist elements and such initiatives will help the country to start its journey towards stability. This megaproject will be of 3000 KM and both countries will be connected through highways, railways and pipelines. The project has been divided into different phases and the first phase of the project is the completion of Gwadar International Airport and the development of Gwadar Port. The Chinese company will complete the first phase by the year 2017. Other small projects in the Economic corridor include the expansion of Karakoram Highway. This is the road that connects China with Pakistan. A fiber-optic line will also be placed in between the two countries to ensure better communication. The economic corridor is not merely a road or rail track; the economic corridor is a way to bring peace and economic stability in the region. Pakistan; as being one the major countries in south east Asia can benefit a lot form this project as it will help the country to eliminate the energy crisis and other transportation problems. China; on the other hand will also gain a lot of benefit from this project. This is one the main reasons that they are investing more than 46 million dollars in a foreign land. According to sources; this is the biggest investment in a foreign land by China. Energy is one of the main problems of China. China is one of the major oil importers in the world and with this economic corridor; they will have a route for safe and sustain energy through pipelines.