China’s CPEC investment in Pakistan reaches $62 billion

Islamabad: China’s investment in its ambitious economic corridor project in Pakistan has reached $62 billion, jumping more than 34% from its initial investment of $46 billion, a top Pakistani official said on Wednesday.

CPEC key Gwadar port

Sindh province governor Mohammad Zubair said China’s approved financing for several projects in Pakistan under the China-Pakistan Economic Corridor (CPEC) has reached $62 billion. He made the remarks at a conference on ‘Infrastructure demand and financing’ jointly organised by credit rating agencies Pacra (Pakistan) and Dagong (China) in Karachi.

“New investment has been approved for projects in various sectors including (establishment of) industrial zones,” said Zubair. He said that the government was also in talks with China to place the Karachi Circular Railway project under the CPEC.

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