China Pakistan Economic Corridor (CPEC)
China Pakistan Economic Corridor (CPEC) is a collection of different projects which will be using to facilitate trade along overland route between China and Pakistan. It will connect Gwadar sea port in Arabian Sea to Kashgar China through a network of highways, railways and gas pipelines. Basically CPEC is a big development of new trading and transport track between Middle East and central Asia.
Net worth of CPEC
51 billion dollars is the total estimate net worth of this project . Upon completion it will create an estimate of over 700,000 jobs. And will boost the economic growth of Pakistan by 2.5 percent.
In addition the corridor will also add 10,400 MW of power to the national grid under the “Early Harvest Project”.And under this project 33 billion dollar of investment will be made on energy infrastructure by private companies to help finish the energy crisis being faced by the country.
And the punjab government has also contracted with Chinese investors for the development of Quaid -e -Azam solar park. This power is under construction in Bahawalpur. After the completion of this project it will be having the capacity to generate 1,000 MW.
Benefits of CPEC
The CPEC project will be greatly benefited for China and pakistan it will gain an alternate route for trade to Middle East and Africa other than the South China Sea which will reduce the distance approximately by 9000 KM.
Furthermore the corridor will also greatly beneficial for Pakistan and it will help to upgrade the existing infrastructure for roads and railways and also will help to overcome the energy crisis. The City of Gwadar with its deep seaport has significant importance in this project. A new international airport worth 230 million dollars is under construction.
They will be constructing new roads and railway lines to connect Gwader and rest of the country .
“China Pakistan Economic Corridor (CPEC)” By Misbah Riaz.