By Ayesha Saba

The China Road and Bridge Corporation (CRBC) has updated its master plan and developed the Karachi Coastal Comprehensive Development Zone project blueprint to promote green and sustainable development as part of CPEC Phase-II, reports WealthPK.

According to the General Manager of CRBC Lyu Ming, the corporation mainly undertakes contracting, investment, development, and operation of roads, bridges, ports, railways, airports, tunnels, real estate and industrial park projects. The CRBC Pakistan office has been actively engaged in construction and investment in Pakistan since 1966.

Talking to WealthPK, Research Associate at the CPEC Authority Adnan Khan said, "China and Pakistan are stepping up cooperation in a number of sectors, thereby enhancing bilateral relations and economic and social development. This initiative will offer Pakistan a range of blue economy-related prospects.

In addition, the CPEC is providing connectivity to several remote areas of Pakistan, including Karachi, which will attract global investors. The route has improved trade with China and continues to enhance development and industrial cooperation between the countries.”

Adnan said Pakistan is blessed with extremely attractive port facilities like Gwadar and Karachi, which give it a wider ground to enhance its maritime economy and develop systematically blue economy.

He said Pakistan intends to boost seafood production by exploiting the still untapped abundant resources in the Arabian Sea.

“Apart from exploiting its SEZs, Pakistan requires a quick, coherent, and creative approach to securing economic benefits from its maritime activities. Moreover, a holistic and integrated planning approach must be introduced as a strategic framework in CPEC to achieve multiple objectives, including sustainable development of particular coastal and marine areas.

Consequently, the MSP (Maritime Spatial Planning) can be adopted as an integrated planning approach to enhancing the development of CPEC coastal and marine areas,” he added.

With an ultra-modern urban infrastructure, the Karachi Coastal Co­m­prehensive Develop­ment Zone (KCCDZ) will provide residential resettlement to improve local living standards, integrate emerging industries including IT, fashion, media, etc., improve the marine ecosystem and bring the enormous potential for global investors.

Spreading over 640 hectares, this multibillion-dollar project will focus on developing infrastructure to improve the port of Karachi by adding new berths and building a bridge to connect an island and a beach with Pakistan’s Deepwater Port.

The whole project will cost $3.5 billion (PKR592 billion) and the total investment will be made by the Chinese without getting any loan.

Credit : Independent News Pakistan-WealthPk