Report by Engineering Post
The China-Pakistan Economic Corridor (CPEC) ,a pivotal element of China’s Belt & Road Initiative (BRI) introduced by President Xi Jinping, is an economic initiative aiming to bolster regional connectivity, trade, and development cooperation.
Envisioned in three phases spanning 2015 to 2030, CPEC has made significant strides in its initial phase (2015-2020), marked by completion of eight infrastructure projects, valued at US $ 6.7 billion, and progress on several ongoing initiatives including roads, airports, and digital media.
The energy projects within overall framework of CPEC have already notably alleviated Pakistan’s energy shortage, adding 8020 MW to the national grid through completion of sixteen power generation projects.
Moving into its second phase, CPEC was poised focus on industrialization, agricultural modernization, Information and Science and Technology, and socio-economic development, with an emphasis on exploring new areas of cooperation like tourism, mining, and petroleum, to bolster the nation’s socio-economic economic landscape.
