(MENAFN) Pakistan and China have inked financing contracts valued at a whopping USD4.2 billion for the building of two main road projects of the eastern alignment of the China-Pakistan Economic Corridor (CPEC).
China will grant a concessionary loan of USD1.3bn for the 120km long Thakot-Havelian section of Karakoram Highyway-II (KKH-II) and USD2.9bn for the 392km Multan-Sukkur section of the Lahore-Karachi motorway.
Both schemes fall on the eastern alignment of the CPEC and are critical for connecting Beijing with the port city of Gwadar, plus the engineering design and construction has already been approved to be given to Chinese firms.
Generally, CPEC has a total investment package of an astounding USD46 billion, and out of this overall sum; nearly USD11.5 billion is reserved for the road and railways infrastructure projects.
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