China to finance three more road projects under CPEC
Islamabad [Pakistan], Dec.28 (ANI): China has announced plans to finance three more road projects under the China-Pakistan Economic Corridor (CPEC), making its total contribution to the corridor-related road projects to Rs1.025 trillion so far.
According to the Dawn, China will provide Rs107.76 billion as soft loan for the three new projects that fall on the western route of the corridor. They include a 280-kilomtre road from Raikot to Thakot at a cost of Rs8bn, 210km dual carriageway from Yarik to Zhob (Rs80bn), and a 110km road from Basima to Khuzdar (Rs19.76bn).
An agreement will be signed between the two countries in this regard in China-Pakistan Joint Cooperation Committee (JCC) meeting to be held on December 29 in Beijing.
Pakistan's Planning, Development and Reform Minister Ahsan Iqbal, NHA chairman Shahid Ashraf Tarar and other senior government officials have arrived in Beijing to formalise the agreement.
The three projects are part of the second phase of the CPEC.
During the upcoming JCC meeting, overall progress of the CPEC would be reviewed. According to the Ministry of Planning, Development and Reform, senior officials from both countries will meet a day before the JCC meeting to give final shape to the new agreements. (ANI)