China, Pakistan sign deals to beef up CPEC project [ Current Affairs ]
About CPEC project: CPEC stands for China Pakistan Economic Corridor. It is a development mega - project which aims to connect Gwadar Port in southwestern Pakistan to China’s northwestern independent region of Xinjiang via a network of highways, railways and pipelines for transportation of oil and gas.
- The economic corridor is considered as central to China Pakistan relations and will run about 3, 000 km from Gwadar to Kashgar.
- Overall construction costs are expected near about 46 billion dollars, with the entire project expected to be completed in few years.
- The economic corridor will be provided to Pakistan with telecommunications and energy infrastructure.
- The project’s intention is also to improve intelligence sharing between the countries.
- China and Pakistan signed twenty more agreements to implement the ambitious China - Pakistan Economic Corridor project worth of 1.6 billion dollars.
- These agreements were signed at the CPEC Forum held at Karamay city in Xinjiang.
- Published on: August 14, 2015