Support from China Helps Pakistan to Gain Momentum in their Construction Industry
Published By : 20 Aug 2015 | Published By : QYRESEARCH
The construction of China Pakistan Economic Corridor COEC gained momentum in Islamabad, Pakistan, as Xi Jinping, the Chinese President visited the city. China proposed a big construction project, ‘Belt and Road’, which includes a 3,000 km network of roads, pipelines and railways linking Kashgar in Pakistan’s Gwadar Port and China’s Xinjiang Uygur Autonomous Region.
In 2013, Xi Jinping proposed a construction plan of Silk Road Economic Belt and the 21st Century Maritime Silk Road. This construction project aimed to revive the ancient trading routs across Asia, Europe, and Africa. Pakistan and China signed an agreement to develop a ‘1+4’ cooperation structure along with the CPEC at the center. The main focus areas of this project include the Gwadar Port, transport infrastructure, industrial cooperation, and energy.
Apart from this project, the construction industry will also focus on development of Zonergy 900 MW solar power plant into national grid of Pakistan. Zonergy 900 MW solar power plant is considered to be the biggest solar power plant worth US$1.5 billion. The project is expected to be completed by 2016. China Three Gorges Corporation has constructed a US$1.65 billion project called Karot hydroplant, the first development of the Silk Road Fund. Another construction project, 720 MW, is set to begin by the end of 2015 and is likely to end by 2020.
Progress in tangible goods has helped China develop its construction and transport infrastructure. With the support from China construction industry, Pakistan is willing to complete the construction of CPEC project sooner than planned. The two projects, US$920 million Karakoram Highway upgrade and US$2.6 billion Karachi-Lahore Motorway, are expected to complete fast under the CPEC outline. For industrial cooperation, China and Pakistan are about to plan industrial parks. China will be supporting Pakistan for development of 21 mineral economic processing regions and 29 industrial parks.