China Willing To Implement ‘$3.5b Karachi Project
BEIJING: Chinese Foreign Ministry Spokesperson Hua Chunying on Tuesday said China was willing to work with Pakistan to implement the outcomes of the recently-held 10th Joint Cooperation Committee (JCC) of the China-Pakistan Economic Corridor (CPEC), including the Karachi project.
“In the recently-held 10th JCC meeting, China and Pakistan agreed to include the Karachi project in the CPEC framework and listed it as an outcome of the meeting,” she said during her regular briefing while commenting on the inclusion of $3.5 billion Karachi Comprehensive Coastal Development Zone (KCCDZ) in the CPEC framework.
The federal government had unveiled an ambitious plan to rebuild Karachi’s coastline under CPEC with $3.5 billion “direct Chinese investment” that aims to overhaul the city’s seaboard with new berths for the port, a new fishery port and a ‘majestic harbor bridge’ connecting it with Manora islands and Sandspit beach.
he KCCDZ — spread over 640 hectares or 1,581 acres on the western backwaters marshland of the Karachi Port Trust (KPT) leading to revamp one of the oldest city slums Machhar Colony relocating its more than half a million population — is an initiative of the Ministry of Maritime Affairs.