Cpec Agreement Between Pakistan And China

A large earthquake shook the region closest to the China-Pakistan border in 2010, causing massive landslides that blocked the Indus and led to the formation of Lake Attabad. Parts of the Karakorum highway were thrown into the lake, forcing all car traffic on barges to cross the new reservoir. Construction of a 24-kilometer series of bridges and tunnels leading to Lake Attabad began in 2012 and lasted 36 months. The ring road is composed of 2 large bridges and tunnels worth 5 kilometers, inaugurated on September 14, 2015 for an amount of $275 million for public use. [100] [101] The 175-kilometre road between Gilgit and Skardu will be converted for $475 million into a 4-lane road to allow direct access from the N-35 to Skardu. [102] [103] The CPEC announcement focused not only on infrastructure work, but also on areas of cooperation between China and Pakistan. In Pakistan, the extension of the 487-kilometre section between Burhan and Raikot of the Karakorum Highway is officially called the Karakorum Highway Phase 2 project. At the southern end of the N-35, work is already underway for the construction of a 59-kilometre 4-lane highway with controlled access between Burhan and Havelian, officially called the E-35 highway once completed. [90] North of Havelian, the next 66 kilometres of road will be converted into a 4-lane expressway between Havelian and Shinkiari.

[91] The groundbreaking of this part began in April 2016. [92] Look here at a large format version of the map. (Source cpec.gov.pk & CSIS) In addition to the above-mentioned problems, some sources have suggested that the interest rate on CPEC-related loans would be high, with the Indian Daily News and Analysis Paper suggesting that Pakistan untnowingly accepted loans “at very high interest rates”,[418] although real interest rates were negotiated before they were adopted. and for most projects will be 1.6%; [71] Conversely, Pakistani infrastructure projects previously financed by the World Bank had an interest rate between 5% and 8.5% and are subject to conditions. [419] [247] From Quetta, the western route of the CPEC continues on the N25 National Highway to the town of Surab in central Balochistan. From Surab, a 470-kilometer-long route, known as the N85 National Highway, will connect central Balochistan to the city of Hoshab, in the southwestern province of Balochistan, near the city of Turbat.