CPEC Projects Worth Rs.700 billion Under Development – Research Snipers

CPEC Projects Worth Rs.700 billion Under Development

Different road and infrastructure projects worth Rs.700 billion are being developed under the mega China Pakistan Economic Corridor (CPEC). CPEC projects worth Rs.700 billion are underway, supervised by the National Highway Authority (NHA).

A few of the 17 short-term projects have been completed under the Eastern Alignment Projects. The rest of the projects will be finalized by 2023. Also, the 6 medium-term projects under Western Alignment Projects will be completed by 2023. Also, three long-term projects are being planned under the CPEC.

Must read: Government to Establish CPEC Secretariat

CPEC will not just boost economic growth and socio-economic development in Pakistan but also play a significant role in developing China’s Silk Road Economic Belt & 21st century Maritime Silk route. Pakistan’s geo-strategic location will be advantageous both for Pakistan and China.

Under the CPEC project, Pakistan and China have successfully launched 22 projects. They will cost over $28.5 billion.

The 12,743 km long network of NHA comprises of 47 national highways, motorways, expressways, and strategic roads.

The current portfolio of NHA consists of 38 ongoing projects for which Rs 176 billion is allocated in PSDP 2018- 19. Rs 66 billion is the Foreign Exchange Component (FEC) in this and Rs 109 billion is the local components. 8 new schemes are planned in PSDP worth the cost of Rs 8.561 billion.