Four Motorways Projects worth $3.3 billion added to CPEC

News Image

MG News | October 04, 2017 at 06:31 PM GMT+05:00

0:00

Four mega road projects together worth more than $3.3bn have been added to the vast suite of infrastructure schemes coming under the $62bn China–Pakistan economic corridor (CPEC).

Most of the funding is coming from Chinese government, which views the CPEC as one of the most important areas in its One Belt, One Road programme. The estimated total investment value of CPEC rose this year from $55bn to $62bn. detailed design for the roads will be completed by November; land acquisition has already begun.

According to local newspaper, the decision was agreed at the fifth meeting of the CPEC transport working group, held in Karachi on Saturday, 23 September.

A $200m, 290km road will link two of Pakistan’s main east-west highways: the N40 at Nok Kundi and Panjgur on the N-85. Now it can take travelers 10 hours to drive between the two towns on single-lane roads.

Another project will run 200km from Mirpur, through Muzaffarabad to Mansehra, improving communication through the mountains north of Islamabad. This is the most expensive of the projects, with an estimated cost of $2.5bn.

A 354km, $430m road in the north will connect Gilgit to Chitral (pictured) in the Khyber Pakhtunkhwa district near the border with Afghanistan.

Meanwhile, the first section of the Peshawar Bus Rapid Transit corridor project, also in northern Pakistan, will be constructed by Maqbool Construction of Karachi, Calson and China Engineering.

Most of the funding is coming from Chinese government, which views the CPEC as one of the most important areas in its One Belt, One Road programme. The estimated total investment value of CPEC rose this year from $55bn to $62bn.

Some investment is also being advanced by the Asian Development Bank, the European Investment Bank and the French Development Agency. The ADB will provide a loan worth $335m, and the AIB and AFD will provide $75m each.

Detailed design for the roads will be completed by November; land acquisition has already begun.

Work on CPEC road projects so far have proved to be among the most dangerous places to work on the planet. According to a report published in GCR in September last year, some 44 workers have been killed in attacks by Pakistan militants.

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,655.00 120,695.00
116,090.00
-3580.00
-2.98%
BRENT CRUDE 68.78 69.41
68.60
-0.43
-0.62%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.62 67.13
66.22
-0.36
-0.54%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May


July 15, 2025 at 04:22 PM GMT+05:00

SYS set for 71% profit surge on global tailwinds



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg