Khawaja Saad Rafique, Federal Minister for Pakistan Railways, said on Thursday that Railways requires upto $30 billion in next 12 years to become a service at par with international standards.
He stated this while addressing a press conference here on Thursday.
Finances support under the China Pakistan Economic Corridor (CPEC) for Railways is estimated at $5.7 billion and is expected to increase to $8.2 billion after approval of new framework.
China while terming main line (ML-1) a strategically important project of China Pakistan Economic Corridor (CPEC) has agreed to provide long term loan on most favorable terms for up-gradation of Railway track from Karachi to Peshawar, said Khawaja Saad Rafique.
The contract of the ML-1 project would be signed in next Joint Cooperation Committee (JCC) while the project would be completed in five years.
With the up-gradation of ML-1 train’s speed will increase to 160 kilometer per hour compared to the current 120 km/h while train capacity would be increased from the current 32 to 171 trains per day, he added.
The Minister further said that Railways has completed first feasibility of ML-1 up-gradation with its own resources while the second feasibility would be completed by May 2017.
China and Pakistan have also established working groups for discussion on up-gradation of the rail line and negotiations will start from the mid of current month, he added.
The Minister said that three other projects including Karachi Circular Railway, Peshawar Mass Transit and Quetta Mass Transit projects have also been included in the CPEC.
He said that the infrastructure of Pakistan Railways (ROW) will be used for the execution of three projects. He assured that the federal government will extend full support including sovereign guarantee and technical support for the completion of these projects.
He said that KCR has been handed over to the Transport Working Group and will be approved in the coming JCC.
The minister further said that a high level delegation including Chief Ministers of three provinces visited and attended the 6th JCC which gave a positive indication to Chinese side that everyone is on the same page for the national interest, irrespective of their political affiliation.
The minister also praised all the Chief Ministers for their positive approach while saying that the gesture helped in including important projects in CPEC.
Saad Rafique further said that ML-1 is 1600 km while total Railway track in the country is 12000 km, hence required massive investment for its up-gradation.
The minister also announced that Pakistan Railways is going to start unprecedented operation of its history for the Sahiwal Coal project by end of the current month from Karachi to Sahiwal.
The project would help in massively increase in Railways income. Railways have completed its arrangements including induction of new locomotives and tracks rehabilitation. Initially 1-2 trains would be operated and would be increased to five with time, he added.
The minister said that feasibility study for Islamabad-Muzaffarabad Railway project has been completed but required an estimated amount of Rs 175 billion. Prime Minister is trying to arrange foreign investment for the project, Saad Rafique added.
Railway Minister said that seven locomotives are on the way while the shipment of all 55 locomotives procured would be completed in next three months.
https://propakistani.pk/2017/01/06/...llion-become-service-international-standards/
He stated this while addressing a press conference here on Thursday.
Finances support under the China Pakistan Economic Corridor (CPEC) for Railways is estimated at $5.7 billion and is expected to increase to $8.2 billion after approval of new framework.
China while terming main line (ML-1) a strategically important project of China Pakistan Economic Corridor (CPEC) has agreed to provide long term loan on most favorable terms for up-gradation of Railway track from Karachi to Peshawar, said Khawaja Saad Rafique.
The contract of the ML-1 project would be signed in next Joint Cooperation Committee (JCC) while the project would be completed in five years.
With the up-gradation of ML-1 train’s speed will increase to 160 kilometer per hour compared to the current 120 km/h while train capacity would be increased from the current 32 to 171 trains per day, he added.
The Minister further said that Railways has completed first feasibility of ML-1 up-gradation with its own resources while the second feasibility would be completed by May 2017.
China and Pakistan have also established working groups for discussion on up-gradation of the rail line and negotiations will start from the mid of current month, he added.
The Minister said that three other projects including Karachi Circular Railway, Peshawar Mass Transit and Quetta Mass Transit projects have also been included in the CPEC.
He said that the infrastructure of Pakistan Railways (ROW) will be used for the execution of three projects. He assured that the federal government will extend full support including sovereign guarantee and technical support for the completion of these projects.
He said that KCR has been handed over to the Transport Working Group and will be approved in the coming JCC.
The minister further said that a high level delegation including Chief Ministers of three provinces visited and attended the 6th JCC which gave a positive indication to Chinese side that everyone is on the same page for the national interest, irrespective of their political affiliation.
The minister also praised all the Chief Ministers for their positive approach while saying that the gesture helped in including important projects in CPEC.
Saad Rafique further said that ML-1 is 1600 km while total Railway track in the country is 12000 km, hence required massive investment for its up-gradation.
The minister also announced that Pakistan Railways is going to start unprecedented operation of its history for the Sahiwal Coal project by end of the current month from Karachi to Sahiwal.
The project would help in massively increase in Railways income. Railways have completed its arrangements including induction of new locomotives and tracks rehabilitation. Initially 1-2 trains would be operated and would be increased to five with time, he added.
The minister said that feasibility study for Islamabad-Muzaffarabad Railway project has been completed but required an estimated amount of Rs 175 billion. Prime Minister is trying to arrange foreign investment for the project, Saad Rafique added.
Railway Minister said that seven locomotives are on the way while the shipment of all 55 locomotives procured would be completed in next three months.
https://propakistani.pk/2017/01/06/...llion-become-service-international-standards/
