International News

Most expensive rail project connecting Pakistan and China

Sentinel Digital Desk

 ISLAMABAD: A newly-proposed China-Pakistan railway project, which is considered to be the "most expensive" transport infrastructure, will cost an estimated amount of $57.7 billion, a study has found, local media reported.

The proposed railway, connecting the Gwadar Post with Xinjiang's Kashgar, holds strategic significance and has the "potential to reshape trade and geopolitics", Geo News reported. Scientists from China Railway First Survey and Design Institute Group, who assessed the railway, urged that the new project should be supported. It was led by deputy director of capital operations Zhang Ling.

"The government and financial institutions (in China) should provide strong support, increase coordination and collaboration among relevant domestic departments, strive for the injection of support funds and provide strong policy support and guarantees for the construction of this project," the team said.

According to the report, Pakistan is expected to receive a much-needed boost from the infrastructure and will easily trade with China, Geo News reported. The railway project will also improve connectivity among the countries along the ancient Silk Road trade routes. The study further revealed that the project is part of a plan to reduce dependence on Western-dominated routes.

"Due to energy shortages, poor investment environment and fiscal deficits, Pakistan's economic growth rate has come under pressure," the team said. "In terms of railway investment and construction, Pakistan is unable to provide sufficient financial and material support and mainly relies on Chinese enterprises for investment and construction." Moreover, the security issues in Pakistan might also hinder the railway project and pose a risk to Chinese workers and investments, Geo News reported. IANS

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