Huge economic transformation project for Karachi under CPEC launched
ISLAMABAD – Pakistan and China have agreed to include Karachi Coastal Comprehensive Development Zone (KCCDZ) under the CPEC framework, a move that aims at placing it among the top port cities of the world.
The monumental decision was taken during the 10th Joint Cooperation Committee (JCC) on CPEC, held this week at Islamabad and Beijing.
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, said an official press release.
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 Karachi Port Trust (KPT).
The quantum of expected investment is around USD 3.5 billion. Developed on reclaimed area of approximately 640 hectares on the Western back waters marsh land of KPT, KCCDZ 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.
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 the Lyari River.
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.
KCCDZ carries enormous potential for global investors as well. KCCDZ will unlock Pakistan’s unexplored Blue Economy and significantly enhance development and industrial cooperation between the two brotherly countries. KCCDZ is a game changer for Pakistan.
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