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ISLAMABAD: China has agreed to finance the upgrading of a rail network on its mainline and to construct a state-of-the-art dry port at Havelian by investing $4 billion during the next three to four years.
“Now the Ministry of Railways has been assigned to carry out a feasibility study for upgrading the rail network from Havelian to Karachi on its mainline (ML-1) which will be accomplished in the next seven to eight months,” a top official of the Ministry of Railways confirmed to The News here on Thursday.
The rail link from Gwadar to Karachi will also be established.The feasibility study will unveil the exact cost of these railway projects but according to rough estimates calculated by the concerned high-ups, the total investment requirement will be standing at around Rs300 to Rs400 billion. Both sides have also finalised the timelines, so these railway projects could be accomplished within the tenure of PML-N led regime.
Federal Minister for Railways Khawaja Saad Rafique told The News on Thursday that the government was working on a revitalising plan for the Pakistan Railways under which it would be turned around from a loss making to profit making entity over the medium term. Under this vision, he said, the rail linkages with neighbouring countries, including China, India and Turkey, would be established over the medium term.
However, official sources said that under the Vision 2025, which is under preparation, the Ministry of Railways has been vying its options to link Khunjerab with Havelian through the rail network but it requires substantial cost and long term plans to make it happen.
Pakistan has requested China to provide interest free loans to finance rail upgrading network, he said and added that the exact mode of financing by the Chinese side was not yet finalised but Beijing was considering different options, including soft loans with mark up of one to two percent to execute these projects.
In order to develop the western China, the industrial goods would be transported through the Karakoram Highway (KKH) by upgrading the road network from Khunjerab to Havelian and then through the rail network consignments would be transported to the port city of Karachi. On the other side, the rail network from Gwadar to Jacobabad will ensure transportation of trade goods.
“China has agreed to finance these mega projects in the recently-concluded early harvest programme signed by both the sides in Beijing,” said the official.In a bid to establish the Pak-China Economic Corridor, both countries have decided to establish rail, road and sea links to promote trade and economic activities.
Special economic zones will also be established on the sidelines of routes linking through rail and road network for exploiting the existing economic opportunities in this region.The sources said that the government was also planning to upgrade 27 kilometers line through Wagah under its short term plan. The Monabhao rail link between Pakistan and India does not require upgrading at the moment, he concluded.
China to invest $4 billion in Pak Railways: official - thenews.com.pk
“Now the Ministry of Railways has been assigned to carry out a feasibility study for upgrading the rail network from Havelian to Karachi on its mainline (ML-1) which will be accomplished in the next seven to eight months,” a top official of the Ministry of Railways confirmed to The News here on Thursday.
The rail link from Gwadar to Karachi will also be established.The feasibility study will unveil the exact cost of these railway projects but according to rough estimates calculated by the concerned high-ups, the total investment requirement will be standing at around Rs300 to Rs400 billion. Both sides have also finalised the timelines, so these railway projects could be accomplished within the tenure of PML-N led regime.
Federal Minister for Railways Khawaja Saad Rafique told The News on Thursday that the government was working on a revitalising plan for the Pakistan Railways under which it would be turned around from a loss making to profit making entity over the medium term. Under this vision, he said, the rail linkages with neighbouring countries, including China, India and Turkey, would be established over the medium term.
However, official sources said that under the Vision 2025, which is under preparation, the Ministry of Railways has been vying its options to link Khunjerab with Havelian through the rail network but it requires substantial cost and long term plans to make it happen.
Pakistan has requested China to provide interest free loans to finance rail upgrading network, he said and added that the exact mode of financing by the Chinese side was not yet finalised but Beijing was considering different options, including soft loans with mark up of one to two percent to execute these projects.
In order to develop the western China, the industrial goods would be transported through the Karakoram Highway (KKH) by upgrading the road network from Khunjerab to Havelian and then through the rail network consignments would be transported to the port city of Karachi. On the other side, the rail network from Gwadar to Jacobabad will ensure transportation of trade goods.
“China has agreed to finance these mega projects in the recently-concluded early harvest programme signed by both the sides in Beijing,” said the official.In a bid to establish the Pak-China Economic Corridor, both countries have decided to establish rail, road and sea links to promote trade and economic activities.
Special economic zones will also be established on the sidelines of routes linking through rail and road network for exploiting the existing economic opportunities in this region.The sources said that the government was also planning to upgrade 27 kilometers line through Wagah under its short term plan. The Monabhao rail link between Pakistan and India does not require upgrading at the moment, he concluded.
China to invest $4 billion in Pak Railways: official - thenews.com.pk
