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What Is Cpec and Its Importance

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What Is Cpec and Its Importance 1 What Is Cpec And Its Importance Pakistan and China have also discussed the inclusion of the 4,500 MW 14 billion Diamer-Bhasha Dam as part of the CPEC project, 190 though as of December 2015, no firm decision has been made though Pakistani officials remain optimistic at its eventual inclusion. As part of the Early Harvest scheme of the CPEC, over 10,000 megawatts of electricity-generating capacity is to be developed between 2018 and 2020. As part of the twelve memorandums of understanding signed by Indian and Iranian delegations as per text released by India s Ministry of External Affairs, India will offer a 150 million line of credit extended by the Exim Bank of India, 313 while India Ports Global also signed a contract with Iran s Aria Banader to develop berths at the port, 314 at a cost of 85 million 315 over the course of 18 months. 5 off its annual GDP. 57 US cents kWH proposed by the Chinese firm, 204 which had been initially agreed at 8. The total CPEC loan is 6 of Pakistan s GDP, however the Indian Government has claimed the project a debt-trap. 5 billion worth of energy projects are to be constructed by joint Chinese-Pakistani firms, rather than by the governments of either China or Pakistan. 288 As a result of CPEC, Chinese imports and exports to the Middle East, Africa, and Europe would require much shorter shipment times and distances. 50 MW Wind Power Project Approved 405 Thar Mine Mouth Oracle Power Plant 1320 MW Surface Mine Under issuance of NTP LOI 406 Hubco Coal Power Project, Hub Balochistan 1320 MW 1,912 US million COD is 14 Aug 2019, fully operational. 226 The facility became operational in May 2018. 92 Groundbreaking on this portion commenced in April 2016. Procurement of an initial 250 new passenger coaches, and reconstruction of 21 train stations are also planned as part of the first phase of the project bringing the total investment in Pakistan s railway system to approximately 5 billion by the end of 2019. 309 As of February 2017, the project remains delayed while the governments of Iran and India blame one another for delays. 349 China plans to transfer 4 ships to the Maritime Security Agency with two ships called PMSS Hingol and PMSS Basol. 22 23 24 25 Pakistani officials predict that CPEC will result in the creation of upwards of 2. 4 interest rate 169 after China agreed to reduce interest rates from an originally planned rate of 3. Some Baloch nationalists have opposed the large-scale development projects envisioned by CPEC, fearing that such developments in the province would eventually result in local residents losing control over natural resources. The special economic zone will be completed in three phases. 63 billion worth of transportation infrastructure so far; 6. 372 2016 saw the lowest number of deaths from acts of violence since the current wave of violence began in 2007, 373 with total fatalities dropping nearly 66 compared to 2014. 92 Groundbreaking on this portion commenced in April 2016. Procurement of an initial 250 new passenger coaches, and reconstruction of 21 train stations are also planned as part of the first phase of the project bringing the total investment in Pakistan s railway system to approximately 5 billion by the end of 2019. 309 As of February 2017, the project remains delayed while the governments of Iran and India blame one another for delays. 349 China plans to transfer 4 ships to the Maritime Security Agency with two ships called PMSS Hingol and PMSS Basol. 22 23 24 25 Pakistani officials predict that CPEC will result in the creation of upwards of 2. 4 interest rate 169 after China agreed to reduce interest rates from an originally planned rate of 3. Some Baloch nationalists have opposed the large-scale development projects envisioned by CPEC, fearing that such developments in the province would eventually result in local residents losing control over natural resources. The special economic zone will be completed in three phases. 63 billion worth of transportation infrastructure so far; 6. 372 2016 saw the lowest number of deaths from acts of violence since the current wave of violence began in 2007, 373 with total fatalities dropping nearly 66 compared to 2014. From there, access onwards to Islamabad and Lahore continues as part of the existing M1 and M2 motorways. Upgrading of the railway line will permit train travel at speeds of 160 kilometres per hour, versus the average 60 to 105 km per hour speed currently possible on existing track, 153 and is expected to increase Pakistan Railways annual revenues by approximately 480 million. 5 billion pipeline between Gwadar and Nawabshah to eventually transport gas from Iran. 67 In March 2017, an agreement was signed for the projects, which include a 1. released funds of Rs 320 million for a seawater desalination plant at Gwadar, with a capacity of five million gallons a day. Negotiations to provide an alternate route to the Central Asian republics by way of China predate the announcement of CPEC. 9 billion phase which will connect the city of Multan to the city of Sukkur over a distance of 392 kilometres has also been approved, 254 with 90 of costs to be financed by the Chinese government at concessionary interest rates, while the remaining 10 is to be financed by the Public Sector Development Programme of the Pakistani government. At the southern terminus of the new Brahma Bahtar-Yarik motorway, the N50 National Highway will also be upgraded between Dera Ismail Khan in Khyber Pakhtunkhwa and Zhob in neighbouring Balochistan province, with eventual reconstruction between Zhob and Quetta. Moody s Investors Service has described the project as a credit positive for Pakistan. On 12 August 2015 in the city of Karamay, China and Pakistan signed 20 more agreements worth 1. From there, access onwards to Islamabad and Lahore continues as part of the existing M1 and M2 motorways. Upgrad- ing of the railway line will permit train travel at speeds of 160 kilometres per hour, versus the average 60 to 105 km per hour speed currently possible on existing track, 153 and is expected to increase Pakistan Railways annual revenues by approximately 480 million. 5 billion pipeline between Gwadar and Nawabshah to eventually transport gas from Iran. 67 In March 2017, an agreement was signed for the projects, which include a 1. released funds of Rs 320 million for a seawater desalination plant at Gwadar, with a capacity of five million gallons a day. Negotiations to provide an alternate route to the Central Asian republics by way of China predate the announcement of CPEC. 9 billion phase which will connect the city of Multan to the city of Sukkur over a distance of 392 kilometres has also been approved, 254 with 90 of costs to be financed by the Chinese government at concessionary interest rates, while the remaining 10 is to be financed by the Public Sector Development Programme of the Pakistani government. At the southern terminus of the new Brahma Bahtar-Yarik motorway, the N50 National Highway will also be upgraded between Dera Ismail Khan in Khyber Pakhtunkhwa and Zhob in neighbouring Balochistan province, with eventual reconstruction between Zhob and Quetta. Moody s Investors Service has described the project as a credit positive for Pakistan. On 12 August 2015 in the city of Karamay, China and Pakistan signed 20 more agreements worth 1. 5 billion TAPI Pipeline which is a planned project involving Turkmenistan, Afghanistan, Pakistan, and India. Concessionary loans Edit. CPEC passes through the disputed region of Kashmir where Indian and Pakistani border guards have occasionally exchanged fire across the Line of Control, 377 378 though no CPEC project is located near the line. 452 Chinese companies took part in 14 post-earthquake reconstruction projects in the disputed region, worth 6 billion. 19 Billion Rupee Physical work under progress. 8 billion, 187 SK Hydro will construct the project with financing by China s EXIM bank. 8 billion Sahiwal Coal Power Project, in full operation since 3 July 2017, 200 is a project in central Punjab that has a capacity 2 of 1,320 MW. The federal Minister of Planning Development and Reform Ahsan Iqbal formally denied any change in the alignment. A cargo train loaded with 500 tonnes of commodities left Kunming for the port city of Guangzhou from where the cargo will be loaded on ships and transported to Karachi, marking the opening of the new route. 184 185 Another wind farm, the Dawood wind power project is under development by HydroChina at a cost of 115 million, and will generate 50 MW of electricity by August 2016. 5 billion TAPI Pipeline which is a planned project involving Turkmenistan, Afghanistan, Pakistan, and India. Conces- sionary loans Edit. CPEC passes through the disputed region of Kashmir where Indian and Pakistani border guards have occasionally exchanged fire across the Line of Control, 377 378 though no CPEC project is located near the line. 452 Chinese companies took part in 14 post-earthquake reconstruction projects in the disputed region, worth 6 billion. 19 Billion Rupee Physical work under progress. 8 billion, 187 SK Hydro will construct the project with financing by China s EXIM bank. 8 billion Sahiwal Coal Power Project, in full operation since 3 July 2017, 200 is a project in central Punjab that has a capacity of 1,320 MW. The federal Minister of Planning Development and Reform Ahsan Iqbal formally denied any change in the alignment. A cargo train loaded with 500 tonnes of commodities left Kunming for the port city of Guangzhou from where the cargo will be loaded on ships and transported to Karachi, marking the opening of the new route.
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