KARACHI: In 10th meeting of the Joint Committee on China-Pakistan Economic Corridor (CPEC), both countries have agreed on including billion dollars Karachi Coastal Comprehensive Development Zone (KCCD) in CPEC framework.
Federal Minister for Maritime Affairs Syed Ali Haider Zaidi on Sunday said KCCDZ would prove to be a game changer for Pakistan. It is an initiative of the Ministry of Maritime Affairs focused on providing Karachi with an ultra-modern urban infrastructure zone, which would place the city among top port cities of the world.
Ali Zaidi said that the historic decision had been made during the 10th Joint Cooperation Committee (JCC) on CPEC held virtually at Islamabad and Beijing on September 23. The planned multi-billion dollars mega KCCDZ project would be built with direct Chinese investment in partnership with Karachi Port Trust (KPT).
The quantum of expected investment was approximately US $ 3.5 billion. KCCDZ would be a flagship project for not only Pakistan but also the entire region, the minister added.
Zaidi said the KCCDZ would also provide residential resettlement to more than 20,000 families living in the nearby slums.He continued to saying that the environment friendly mega KCCDZ envisaged four new berths for KPT. 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.
The federal minister said that KCCDZ would also improve marine ecosystem and reduce pollution. It would connect rest of Karachi through a majestic harbour bridge rising from behind Pakistan’s deep water Port with exit ramps for Manora Island and Sandspit Beach.
KCCDZ had also enormous potential for foreign investors. It would unlock Pakistan’s unexplored blue economy and significantly enhance development and industrial cooperation between the two countries.