Pakistan Approves $7.2 Bln Railway Line Upgrade Project under CPEC
Pakistan's Central Development Working Party has approved a $7.2 billion railway line upgradation project between Peshawar and Karachi under the China Pakistan Economic Corridor (CPEC).
The project entails upgradation of the 1,872 km-long railway track from Peshawar in the north, to Karachi in the south. Following the upgrade trains can increase in their speeds from the current 110 to 160 kms per hour. This is a major milestone for the second phase of the CPEC.
The main railway line will link the southern Chinese city of Kashgar with the Gwadar port on the southwest coast of Balochistan province.
The Chinese President Xi Jinping is slated to open the project during his upcoming visit to Pakistan.
The approval has further paved the way for final negotiations with China to finance the project with the knowledge of the International Monetary Fund, while the World Bank linked the project's success to bringing about governance reforms in the railways.