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China assures expeditious development of CPEC 2nd phase: Khalid Mansoor

ISLAMABAD, Pakistan: Following the culmination of Prime Minister Imran Khan’s visit to Beijing, his Special Assistant on CPEC Affairs Khalid Mansoor has told that China has given the assurance of high quality and expeditious development of the second phase of the China-Pakistan Economic Corridor (CPEC).

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Prime Minister Imran Khan returned to Pakistan from Beijing on Sunday after a four-day visit from February 3-6 which he had undertaken to attend the Opening Ceremony of the Winter Olympic Games 2022.

While addressing a News Conference in Islamabad on Monday, the Prime Minister’s Special Assistant on CPEC Affairs Khalid Mansoor said that the leadership of Chinese Companies during meetings with Prime Minister Imran Khan appreciated the environment and facilitation being provided by Pakistan to the Chinese investors, expressing the confidence that Pakistan will now head towards industrialization which will benefit the economy and provide job opportunities to the youth.

Prime Minister’s Special Assistant on CPEC Affairs Khalid Mansoor

Khalid Mansoor pointed out that Prime Minister Imran Khan held 20 back-to-back meetings in Beijing during which the Chinese Companies showed interest for investment in different sectors including industries, agriculture, information technology, infrastructure, housing, and construction mining, and oil refinery. He said that it will now be our effort to give a practical shape to their interest in the shortest possible time.

The special assistant said that a Consortium comprising of three Chinese Companies has submitted a proposal to establish a Low Carbon Recycle Plant at Gwadar with an estimated investment of US$ 4.5 billion. He said that the plant will process and export the high-value metals, generating 40,000 job opportunities.

The special assistant on CPEC affairs said that China will establish a Center for Training of Farmers in agricultural mechanization.

Khalid Mansoor said that one Chinese Company has entered into a joint venture with the Fauji Fertilizer Company for the production of Soybean and Corn. He said that a Chinese Company Royal Group has submitted a proposal to establish four large-scale Buffalo Farms in Pakistan where it will process milk and prepare value-added products.

In addition, he told that a big Chinese Company has also decided to establish a Textile Cluster on 100 acres of land.

Khalid Mansoor said that China has also reaffirmed its commitment to the construction of the Karachi Coastal Comprehensive Development Zone with an investment of US$ 3.5 billion.

The special assistant said that a Chinese Company involved in the manufacturing of medical diagnostic equipment has expressed interest to invest US$ 200 million.

Khalid Mansoor said that a Pakistan Cellular Company has reached an agreement with a Chinese Company to lay fiber-optic at an area of 100,000 kilometers which will help connect our big cities with the optical fiber.

Furthermore, he said that China also wants to establish an LNG Storage Facility at Karachi Port with an investment of US$ 500 million. He said that local manufacturing and assembly of mobiles will also be started by China in the Science and Technology Zone.

Likewise, he added that Power China will develop Karachi Hub Water Canal.

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