KARACHI: China and Pakistan have developed a consensus on making the multi-billion Karachi Coastal Comprehensive Development Zone (KCCDZ) project part of the CPEC framework.
The consensus was reached during the 10th Joint Cooperation Committee (JCC) of CPEC on Sep 23, according to a press release shared by Maritime Affairs Minister Ali Zaidi on his official Twitter handle.
It said the project, an initiative of the Maritime Affairs Ministry will focus on providing Karachi with an ultra modern urban infrastructure zone, placing the metropolis amongst the top port cities of the world.
The KCCDZ will be executed on direct Chinese investment in partnership with Karachi Port Trust (KPT), the statement said. The volume of expected investment is around $3.5 billion.
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The project, to be built on reclaimed area of approximately 640 hectares on the Western back waters marsh land of KPT, will be a flagship project for not only Pakistan but the entire region.
“In accordance with PM Imran Khan’s vision for promoting low-cost housing, KCCDZ will also provide residential resettlement to more than 20,000 families living in the surrounding slums,” read the statement.
The environment friendly mega KCCDZ envisages 4 new berths for KPT adding depth to Pakistan’s expanding maritime sector. It will also house a state-of-the-art fishing port, with a world class fisheries export processing zone to boost Pakistan’s trade potential.”
It will also drastically improve the marine ecosystem and reduce pollution by establishing a water treatment plant at the mouth of Lyari River.”
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