KARACHI, Pakistan: A monumental decision was taken during the 10th Joint Cooperation Committee (JCC) on CPEC held on September 23, 2021 at Islamabad and Beijing.
Both Pakistan and China agreed to include the Karachi Coastal Comprehensive Development Zone (KCCDZ) under the CPEC framework.
The KCCDZ, an initiative of the Ministry of Maritime Affairs focuses on providing Karachi with an ultra-modern urban infrastructure zone, placing Karachi amongst the top port cities of the world.
In a first of its kind even for CPEC, the planned multibillion-dollar mega KCCDZ project will be built on direct Chinese investment in partnership with the Karachi Port Trust (KPT). The quantum of expected investment is around US$ 3.5 billion.
Developed on a reclaimed area of approximately 640 hectares on the western back waters marsh land of the KPT, the KCCDZ will be a flagship project for not only Pakistan but the entire region.
In accordance with Prime Minister Imran Khan’s vision for promoting low-cost housing, the KCCDZ will also provide residential resettlement to more than 20,000 families living in the surrounding slums.
The environmentally friendly mega KCCDZ envisages 4 new berths for the 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 maritime ecosystem and reduce pollution by establishing a water treatment plant at the mouth of the Lyari River.
The KCCDZ will connect with the rest of Karachi through a majestic harbor bridge rising from behind Pakistan’s Deepwater Port, with exit ramps for Manora Islands and Sandspit beach.
The KCCEZ carries enormous potential for global investors as well.
The KCCDZ will unlock Pakistan’s unexplored Blue Economy and significantly enhance development and industrial cooperation between the two brotherly countries.
The KCCEZ is a game-changer for Pakistan.