ISLAMABAD: Pakistan and China have agreed to include the Karachi Coastal Comprehensive Development Zone (KCCDZ) under the China-Pakistan Economic Corridor (CPEC) framework, a statement received here said.
The decision was taken during the 10th Joint Cooperation Committee (JCC) on CPEC, held on September 23, 2021.
KCCDZ, an initiative of the Ministry of Maritime Affairs focuses on providing Karachi with an ultramodern urban infrastructure zone, placing Karachi among the top port cities of the world.
In a first-of-its-kind even for CPEC, the planned multi-billion dollar mega project would be built on direct Chinese investment in partnership with the Karachi Port Trust (KPT). The quantum of expected investment was around $3.5 billion.
Developed on reclaimed area of approximately 640 hectares on the Western back waters marsh land of KPT, the Karachi Coastal Comprehensive Development Zone would 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 project would also provide residential resettlement to more than 20,000 families living in the surrounding slums.
The environment-friendly mega project, envisages four new berths for KPT, adding depth to Pakistan’s expanding maritime sector.
It would 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 would connect with the rest of Karachi through a majestic harbour bridge rising from behind Pakistan’s Deepwater Port, with exit ramps for Manora Islands and Sandspit beach. It carries enormous potential for global investors, as well, the statement said.
The Karachi Coastal Comprehensive Development Zone would unlock Pakistan’s unexplored blue economy and significantly enhance development and industrial cooperation between the two brotherly countries. It will be a game changer for Pakistan, it added.