Gwadar Port

China is set to unveil a $46bn investment plan called the China-Pakistan Economic Corridor (CPEC) in Pakistan, which is expected to include a network of roads, railway and pipelines between the two countries.

The new corridor, which will be established between the southern Gwadar port of Pakistan on the Arabian Sea and the western Xinjiang region in China, is set to run through Pakistan’s poor Baluchistan province.

The Guardian reported that the latest development is part of Beijing’s efforts to boost investments in Pakistan in line with its expansion plans across the Central and South Asian regions.

"The latest development is part of Beijing’s efforts to boost investments in Pakistan."

As part of the project, new road, rail and pipeline links would be created to reduce several thousand kilometres off the route.

The latest upgrade is said to stretch 3,000km from the Pakistani port to the western city of Kashgar.

China’s Government and banks will offer loans to national companies under the CPEC plan, enabling them to invest in new projects.

Said to be an under-construction development megaproject, the CPEC is considered central to China-Pakistan relations. The project is slated for completion in 2030, according to the financial daily Nihon Keizai Shimbun.

Chinese President Xi Jinping will visit Pakistan to unveil the new plan, which is set to transform the country into a regional economic hub.

Image: The new CPEC will be established between the southern Gwadar port of Pakistan on the Arabian Sea and the western Xinjiang region in China. Photo: courtesy of en:user:Paranda via Wikipedia.