Pakistan completes CPEC motorway project
Ben Stevens
China-Pakistan economic corridor, also known as CPEC, is a monumental project having approximately $45 billion investment by China.
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Pakistan recently completed and inaugurated 120 miles long Gwadar-Turbat Hoshab Motorway (M-8). The new project is part of the China-Pakistan Economic Corridor (CPEC) investment program, having approximately $45 billion investment from China.
The CPEC is makes both countries’ relations stronger. Officials of both countries are calling this merger a start to new heights. They will create the major part of the CPEC in Gwadar, Balochistan. The next immediate step will include the creation of a power plant in the Gwadar area with over 1000 MW capacity.
The main purpose of CPEC is to connect China with the new port city of Gwadar-Turbat in the south of Pakistan. This will directly connect China with the western world. After 9/11, Pakistan has been a direct target of terrorist attacks, which are now fading because of a military operation in the country's north.
The CPEC initiative will help Pakistan revamp its economy in a positive direction. The CPEC is a project of 1900 miles connecting both countries through roads, railways, and, most importantly, major pipelines.
Pakistan-China relation amid CPEC
Ever since both countries came into being in the 1940s, they have encouraged important economic relations, always wanting to increase trade between them. The CPEC is a contemporary project that shows their strong affinity, and in the longer term, it will shape the economic script in the region.
Many people have a misconception that the CPEC is only a road and railway project, but it will also lead to bring peace and economic stability in the region. Pakistan, being a major player near South Asia, is going to benefit a lot from the project, as the country doesn’t have enough trading activity going on at the moment. The CPEC will gather a great deal of trade from all over the world. China is also going to reap enough profit out of the initial investment of $45 billion it has pledged to the project.
Project necessary for Pakistan
Prior to the CPEC, China is also investing in the real estate and mining sectors in Pakistan and wanted to complete a couple of projects before the CPEC program takes off. It has laid the groundwork for some future work in both the real estate and energy sectors. The success in these ventures will also be an indicator of how well the road project is going to succeed.
The Chinese are keen to invest in the real estate sector near Gwadar, as it is going to be the hub and focal point regarding the project. China is also very avid about energy needs in Gwadar and since it is their biggest issue as of now, most of their investment is going to be in the energy sector.
Pakistan is trying to guarantee the safety of the CPEC project and ensure its safety implementation, in order to ease the country from its stagnant economy.
Ben Stevens
Ben Stevens is a writer with a vast experience in blogging. He has also been a contributor to a local magazine for the past 3 years.
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