KCCDZ will open new corridor for foreign investments

Inclusion of Karachi Coastal Comprehensive Development Zone (KCCDZ) in the China-Pakistan Economic Corridor (CPEC) will be a game changer in the coming days. An initiative that particularly focuses on providing Karachi with an ultra-modern urban infrastructure zone that will place this marvelous city among the top ports of the world. Federal Minister for Maritime Affairs Ali Haider Zaidi announced this historic decision that has been taken during the 10th Joint Cooperation Committee (JCC) on CPEC held at Islamabad and Beijing. As the two countries has agreed to include Karachi Coastal Comprehensive Development Zone (KCCDZ) under the CPEC framework, the multi-billion dollars mega KCCDZ project would be built with direct Chinese investment in partnership with Karachi Port Trust (KPT). The considerable quantum of expected investment is approximately around US $ 3.5 billion adumbrating KCCDZ as a leading project for not only Pakistan but also the entire region. Apart from this, this mega-dollar project will provide residential resettlement to more than 20,000 families living in the surrounding slums. The environmentally-oriented project will be a state-of-the-art fishing port, improving the marine ecosystem while reducing pollution. A majestic harbor bridge will be built as connector, rising from behind Pakistan’s Deep-water Port with exit ramps for Manora Island and Sandspit Beach. This diverse project will open the gates for enormous potential for global investors, paving ways to unlock Pakistan’s uncharted Economy.