In the first week of August, Pakistan and China are expected to finalize an agreement for the Main Line-1 (ML-1) railway project.
According to informed sources close to the situation, Pakistan and China have agreed on the finance for the Main Line-1 (ML-1) railway project.
Pakistan and China agreed in October 2020 to launch a $10 billion Mainline-1 (ML-1) railway project from Karachi to Peshawar, broadening the scope of CPEC from government-to-government to business-to-business cooperation.
According to sources, Pakistan and China will sign an agreement for the ML-1 project in the first week of August. According to the deal, the ambitious project will be finished at a cost of $6.5 billion, down from $8 billion.
Pakistan will provide 15% of the project’s funding. According to sources, Pakistan requested that the cost of the ML-1 project be reduced.
The ML-1 project seeks to upgrade and double the 1733-kilometer railway track from Karachi to Peshawar, as well as add new signaling and communications equipment. The railway rails will be upgraded, allowing trains to travel at 140 km per hour.
To save money, the fencing plan for the entire railway track has been postponed, and the rails will only be walled in inhabited regions.
Overhead bridges will be built in the first phase, and railway crossings in inhabited areas will be closed.
Pakistan will provide 15% of the project’s funding. According to sources, Pakistan requested that the cost of the ML-1 project be reduced.
