The CPEC project is a significant part of the Belt and Road Initiative devised by China. The BRI project has been pumped with a multi-million dollar investment from the Chinese Government as well as other parts of the world.
Plans for an economic corridor between China and Pakistan has been gestating for a long time now. China, with its Belt and Road initiative, has successfully initiated mass scale projects in different countries across the world with CPEC being one of them. CPEC aims at improving the China-Pak relationship and a long term sustainable development for Pakistan. Other projects in the BRI involve including nations in Africa to countries of Europe, mainly networking.
Let’s look at five of the impressive developments happening as a part of the Belt and Road Initiative right now.
Gwadar International Airport, Pakistan
All the developments in the Gwadar over the last two to three years have assured investors from all around the world of Gwadar being turned into an international hub. The subsequent developments in the Gwadar region and in the Freezone is supposed to attract tourists and business from all over the world. The absence of a world-class international airport in the area would be a major setback for the regional economy. Prime Minister Imran Khan laid the foundation stone of the new Gwadar International Airport in 2019. With the help of China, Pakistan aims to construct an airport that is world class with all the modern amenities and state-of-the-art infrastructure and technology.
Fully funded by China, the airport is expected to cost around 250 million dollars. The Gwadar International Airport is being built with the capacity to board a narrow body aircraft as well as wide body planes such as the larger Airbus and Boeing aircraft. The International Airport is also being seen as a major step forward by both the countries to develop their relationship.
“What a pleasure it is to be in Gwadar. In the coming months, years, Gwadar would be, I see, as engine of growth for Pakistan,” Imran Khan was found quoting at the foundation ceremony in Gwadar this year in March.
The Gwadar International Airport and the other developments under the CPEC is aimed at providing Pakistan a means of development of the region that was ignored for a long time. Besides, the CPEC projects are also meant to provide China an easy means of transportation and trade in the Indian Ocean.
Gwadar Port, Pakistan
In what is being seen as a major step to provide Pakistani economy the ideal ground for a sustainable development, Gwadar Port is one of the biggest infrastructure projects of China under the Belt and Road initiative. Pakistan will get a chance to strengthen its economy from the revenue it generates by charging the countries for cargo handling at the port. The Baluchistan province has been long denied development and ignored despite the rich natural heritage it obtains. The Gwadar Port and other developments in the area, one of which is the Gwadar Freezone is expected to lure investors from all over the world to turn it into a major international trade hub. Apart from this, the presence of a major port in its waters will also give Pakistan an upper hand in the region. Once completed, the Gwadar Port is believed to bless the region with a major source of regional trade and travel connectivity.
Sahiwal Coal Power Project, Pakistan
Located at a distance of 12 miles from Sahiwal and 9.3 miles from Okara, the power plant is being built as Pakistan’s one of the biggest large-scale coal power plant. The capacity of the power plant is capped at 1320 megawatts. Announced back in April 2015, the power plant is being constructed by China’s state owned China Huaneng Group. The state of Pakistan will buy electricity from the power plant at a cheaper rate which gives Pakistan the freedom to power the nearby areas and villages at a cheaper rate. Pakistan will also observe a complete ownership of the power plant being transferred by China to the government of Punjab as soon as the power plant completes 30 years of operation. The plant became fully functional in 2017.
Jakarta-Bandung high-speed rail, Indonesia
One of the biggest projects under the Belt and Road initiative is the Jakarta-Bandung high speed rail project in Indonesia. Indonesia is expected to earn 18 billion dollars by developing towns and industries along the rail line. The project is also being projected as the first high speed rail of South East Asia. The project’s success is being viewed by Indonesian officials as well as experts from across the world as a major catalyst that will boost the development of Indonesia as a whole.
A spokesman for the Chinese Ministry of Foreign Affairs previously told Reuters, “It’s a major project for the mutual benefit and cooperation between China and Indonesia and helps promote local economic and social development”.
The project is being built at a cost of 4.5 billion dollars which is being loaned by the Chinese to the Indonesian government.
Forest City, Malaysia
The Forest City in Malaysia will be an inspiration for many other cities around the world. The multi-billion dollar project is expected to increase the economy of Johor as well as Malaysia in amalgamation. The project has also created numerous job opportunities for the people in Malaysia, out of which the locals are being benefited a lot. In return, the country has seen a massive increase in the income tax that is being paid by the locals of that area. The residential complexes built being built in the Forest City is expected to not only lure locals from Malaysia, but also investors from China and other cities of the world. The Forest City is also expected to become a major hub for housing of professionals and students who visit Malaysia for their business and study purposes. The Forest City will serve as a big role model for cities that aim to move towards making themselves environment-friendly and sustainable.