Pakistan Prime Minister Nawaz Sharif on 29 November 2014 inaugurated China-Pakistan Economic Corridor project in Hazara. The Economic Corridor will pass through Pakistan-occupied Kashmir (PoK).
The inauguration of the Hazara Motorway signals the implementation of the China-Pakistan Economic Corridor (CPEC) agreement.
This 60 km long four lane fenced Hazara Motorway in Khyber Pakhtunkhwa province will cost 297 million US dollars and will take two years to complete.
The prime minister also announced the construction of a railway track to link Hazara with Karachi and Quetta while another track will be constructed to link Hazara with Muzaffarabad.
During his China visit earlier in November 2014, Sharif signed deals worth 45.6 billion US dollars that included projects connected with the Corridor. Sharif has promised full security to Chinese personnel involved in construction of this mammoth project.
China-Pakistan Economic Corridor
The China-Pakistan Economic Corridor was proposed in the China-Pakistan Economic Corridor (CPEC) agreement reached during Chinese Premier Li Keqiang visit to Pakistan in May 2013.
The Corridor is seen as a flagship project to strengthen China’s connectivity with neighbouring countries. It is an initiative set to aid strategic framework for pragmatic cooperation between the two nations.
China-Pakistan Economic Corridor is a development programme to connect Gwadar Port in southern Pakistan to China’s northwestern region of Xinjiang via highways, railways and pipelines to transport oil and gas.
The corridor will serve as a primary gateway to trade among China, Middle East and Africa through Pakistan. Particularly, the oil from the Middle East will be offloaded at Gwadar which is located just outside the mouth of the Persian Gulf.
The oil will be transported to China through the Baluchistan province in Pakistan. Such a link would vastly cut the 12000 kilometres route that Mideast oil supplies now take to reach Chinese ports.
When: 29 November 2014
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