Pak-China economic corridor world’s future

[AZADPAKISTAN2009]

LAHORE - Pak China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi said here Monday that Pak-China economic corridor would empower half of the world’s population living in Asia, by developing special trade routes between China and Pakistan.
Appreciating present government’s endeavors for implementing economic corridor project, he termed it the most important agreement signed between Pakistan and China till now, adding that it was future of the world because three billion people from China, South Asia and Central Asia would benefit from this corridor.Afridi urged government to implement this project in a way that population of Pakistan at large was benefitted. “Pakistan’s prosperity is no more a longer journey as the current leadership is working diligently on such projects whose outcomes would be visible and bright in a shorter period of time,” he observed.
Recently China has commissioned a preliminary research study to construct an international rail link connecting its province Xinjiang’s border to Pakistan. According to Chinese officials, this new rail link, which runs through the Pamir Plateau and Karakorum mountains, would be one of the hardest to build. The proposal, when implemented, would re-open the economic artery blocked for years, he added.
President PCJCCI said, the federal government had announced six development schemes worth Rs 130 billion under the Pakistan-China Economic Corridor, marking the beginning of a process that would transform the country into a transit hub for the second largest economy of the world.
The reason behind this vital importance was that 60 percent of oil was being imported from gulf countries that reached China after covering the distance of 16,000 kilometres, he said, adding that after the completion of Gawadar Port project, the distance would reduce to 2500 kilometres only which was, from all aspects, more safe and feasible.He affirmed that in the rapidly changing geo-strategic and security environment, both countries were likely to face many regional and global challenges. It was need of the hour that leadership of both countries should pace up work for cementing the traditional Sino-Pak relationship with an exclusive focus on the economic corridor project that would bring economic prosperity for Pakistan and underdeveloped western region of China as well, he said.

 

[Asian.Century]

PCEC - Pak-China Economic Corridor is where both countries thought about a great plan...sooner it completes better it is for both the great nations of Asia.

Pak-China Economic Corridor, Connectivity and Maritime Cooperation

 

[pursuit of happiness]

LAHORE - Pak China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi said here Monday that Pak-China economic corridor would empower half of the world’s population living in Asia, by developing special trade routes between China and Pakistan.
Appreciating present government’s endeavors for implementing economic corridor project, he termed it the most important agreement signed between Pakistan and China till now, adding that it was future of the world because three billion people from China, South Asia and Central Asia would benefit from this corridor.Afridi urged government to implement this project in a way that population of Pakistan at large was benefitted. “Pakistan’s prosperity is no more a longer journey as the current leadership is working diligently on such projects whose outcomes would be visible and bright in a shorter period of time,” he observed.
Recently China has commissioned a preliminary research study to construct an international rail link connecting its province Xinjiang’s border to Pakistan. According to Chinese officials, this new rail link, which runs through the Pamir Plateau and Karakorum mountains, would be one of the hardest to build. The proposal, when implemented, would re-open the economic artery blocked for years, he added.
President PCJCCI said, the federal government had announced six development schemes worth Rs 130 billion under the Pakistan-China Economic Corridor, marking the beginning of a process that would transform the country into a transit hub for the second largest economy of the world.
The reason behind this vital importance was that 60 percent of oil was being imported from gulf countries that reached China after covering the distance of 16,000 kilometres, he said, adding that after the completion of Gawadar Port project, the distance would reduce to 2500 kilometres only which was, from all aspects, more safe and feasible.He affirmed that in the rapidly changing geo-strategic and security environment, both countries were likely to face many regional and global challenges. It was need of the hour that leadership of both countries should pace up work for cementing the traditional Sino-Pak relationship with an exclusive focus on the economic corridor project that would bring economic prosperity for Pakistan and underdeveloped western region of China as well, he said.

--
if use effectivel.. pak -china can change central asia and indian subcontinet...

 

[Al Bhatti]

July 8, 2014

Billions spent investing in the UAE’s future
National Editorial


For a relatively small country, the UAE’s 20 ports might seem excessive. So too might the Emirates’ leading role in constructing more than half of the proposed 2,177km GCC rail network, or the widening of 328km of the E11 highway in the western region, or even Abu Dhabi’s Midfield Terminal, which will open in 2017 and be capable of handling 30 million passengers a year – two and a half times the capacity of the current airport.

But the time to build infrastructure is before it is needed, providing the canvas upon which the skill, drive and ingenuity of the UAE’s entrepreneurs will be able to flourish unhindered. Many of these upgrades are part of the Dh360 billion the Abu Dhabi Government has allocated to capital projects in a five-year investment plan, using its oil revenues now to bolster the prospects for non-oil related businesses to thrive in the future, diversifying the economy.

The wisdom of this is apparent in the Khalifa Industrial Zone Abu Dhabi (Kizad), one of the country’s biggest recent infrastructure projects. Just 60 years earlier, the needs of Abu Dhabi’s port could be met by dhows pulling up onto the beach and unloading their cargo onto the sand. Even the early oil industry cars were brought ashore in this way.

But Abu Dhabi’s burgeoning development meant a port susceptible to the whims of tide and weather was insufficient, so Port Zayed was created on the eastern end of the Corniche. Designed for use by everything from dhows to cargo ships, it too quickly proved inadequate and so Kizad was conceived for a section of coastline near the border with Dubai.

This mega-port was not simply a bigger version of what had been before but is of a different kind, being flanked by an industrial zone designed to ease the path for entrepreneurs attracted by the UAE’s strategic location, ease of doing business and lack of taxes.

Kizad will further benefit if Gwadar Port in Pakistan becomes a more significant regional force. Gwadar is potentially a warm water gateway to major markets like China, although it currently lacks the infrastructure links to fully exploit that position.

Kizad’s location near Taweela power station – and the prospect of a state-of-the-art road and rail network at its door – makes for a compelling overall business case in which Abu Dhabi is investing in its own future and making it less reliant on an extractive economy.


Billions spent investing in the UAE’s future | The National

Billions spent investing in the UAE’s future

 

[Chak Bamu]

Kizad will further benefit if Gwadar Port in Pakistan becomes a more significant regional force. Gwadar is potentially a warm water gateway to major markets like China, although it currently lacks the infrastructure links to fully exploit that position.

Kizad’s location near Taweela power station – and the prospect of a state-of-the-art road and rail network at its door – makes for a compelling overall business case in which Abu Dhabi is investing in its own future and making it less reliant on an extractive economy.

This turns conventional regional strategic thinking on its head!

Gulf Arabs are quick to sense opportunities. While Dubai had interest in a lack of development at Gwadar, Abu-Dhabi seems to have recognized that it is better to encourage Gwadar rather than try to delay it. I think China being part of Gwadar's future has something to do with it? This apparent re-orientation is game-changing. If UAE is on-board, then we have another significant regional player on our side as far as Pakistan's development of China's trade route through Gwadar is concerned. There is money to be made, and UAE wants to be a player.

This also helps Gwadar in competition with Chahbahar port of Iran.

This is leveraging of Pakistan's strategic location.

Now if only we could rapidly improve HDI indicators in the next couple of decades, we can have sustained high-growth rates.

 

[Asian.Century]

PM performs groundbreaking ceremony of Hazara Motorway

This important road link is part of Pakistan China Economic Corridor agreement.

Prime Minister Muhammad Nawaz Sharif performed the ground breaking ceremony of the Hazara Motorway in Havelian today.

This important road link is part of Pakistan China Economic Corridor agreement.

The 60-km long 4-lane fenced expressway will cost thirty-three billion rupees. Hazara Motorway will reduce the drive time from Islamabad to Havelian to just 30 minutes in addition to providing road to the Havelian Dry Port project.

Kohistan, Batagram, Mansehra, Abbottabad and Haripur will be linked to Motorway.

The project is a translation of Prime Minister's commitment to expand the networks of motorways to build a progressive Pakistan. The project will create hundreds of thousands of employment opportunities, possibilities of new business ideas, and socio-economic uplift of the whole region.

Earlier, the Prime Minister was briefed on the project by National Highway Authority Chairman Shahid Ashraf Tarar.

On arrival, the Prime Minister was welcomed by the PML(N) leadership including Religious Affairs Minister Sardar Muhammad Yousuf, Governor KPK Mehtab Ahmad Khan, Deputy Speaker National Assembly Murtaza Javed Abbasi and Retd Capt Safdar.

Radio Pakistan

China commits $45.6 billion for economic corridor with Pakistan
By Reuters
Published: November 21, 2014

ISLAMABAD: The Chinese government and banks will finance Chinese companies to build $45.6 billion worth of energy and infrastructure projects in Pakistan over the next six years, according to new details of the deal seen by Reuters on Friday.

The Chinese companies will be able to operate the projects as profit-making entities, according to the deal signed by Prime Minister Nawaz Sharif during a visit to China earlier this month.

At the time, officials provided few details of the projects or the financing for the deal, dubbed the China-Pak Economic Corridor (CPEC).

The deal further cements ties between Pakistan and China at a time when Pakistan is nervous about waning US support as troops pull out of Afghanistan. Pakistan and China, both nuclear-armed nations, consider each other close friends.

Their ties are underpinned by common wariness of India and a desire to hedge against US influence in South Asia.

Documents seen by Reuters show that China has promised to invest around $33.8 billion in various energy projects and $11.8 billion in infrastructure projects.

Two members of Pakistan’s planning commission, the focal ministry for the CPEC, and a senior official at the ministry of water and power shared the details of the projects.

The deal says the Chinese government and banks, including China Development Bank, and the Industrial and Commercial Bank of China Ltd (ICBC), one of China’s ‘Big Four’ state-owned commercial banks, will loan funds to Chinese companies, who will invest in the projects as commercial ventures.

“Pakistan will not be taking on any more debt through these projects,” said Minister for Water and Power Khawaja Asif.

Major Chinese companies investing in Pakistan’s energy sector will include China’s Three Gorges Corp, which built the world’s biggest hydro power scheme, and China Power International Development Ltd.

Sharif signed more than 20 agreements during his trip to China earlier this month, including $622 million for projects related to the deepwater, strategically important Gwadar port, which China is developing.

The port is close to the Strait of Hormuz, a key oil shipping lane. It could open up an energy and trade corridor from the Gulf across Pakistan to western China that could be used by the Chinese Navy – potentially upsetting rival India.

Pakistan sees the latest round of Chinese investments as key to its efforts to solve power shortages that have crippled its economy.

Blackouts lasting more than half a day in some areas have sparked violent protests and undermined an economy already beset by high unemployment, widespread poverty, crime and sectarian and insurgent violence.

Under the CPEC agreement, $15.5 billion worth of coal, wind, solar and hydro energy projects will come online by 2017 and add 10,400 megawatts of energy to the national grid, officials said.

An additional 6,120 megawatts will be added to the national grid at a cost of $18.2 billion by 2021.

“In total we will add 16,000 MW of electricity through coal, wind, solar and hydel plants in the next seven years and reduce power shortage by 4,000 to 7,000 megawatts,” said Asif.

“This will take care of a growing demand for power by a growing economy.”

The CPEC deal also includes $5.9 billion for road projects and $3.7 billion for railway projects, all to be developed by 2017.

A $44 million optical fibre cable between China and Pakistan is due to be built.

 

[faisal6309]

Getting a lot of good news these days.

 

[t-birds]

An intellectual analysis of Pak China Economic Corridor & its impact on the geographic locations & geo political environment.

A very interesting discussion.

 

[Stag112]

Is there truth in 17pct guaranteed returns to china?

That would make actual returns to china unbelievably profitable. Chinese equipment, chinese manpower, chinese loans, chinese guaranteed returns all put together I must China has hit a goldmine. China has always benefitted when countries have failed and gotten isolated - myanmar, venezuela, north korea, sudan, zimbabwe etc etc..... All chinese friends btw...