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Pakistan secures funding from China for LNG terminal and transmission line

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LNG Industry,

According to Reuters, Pakistan’s Planning Minister, Ahsan Iqbal, has announced that Pakistan has secured a further US$8.5 billion of investment from Beijing, China.

This comes as part of the countries’ joint energy, transport and infrastructure plan, and is addition to the US$46 billion China-Pakistan Economic Corridor (CPEC) project. The project focuses on road construction and energy infrastructure to stop power shortages in Pakistan, and to link China’s landlocked northwest with the Gwadar deepwater port on the Arabian Sea.

Reuters reports that approximately US$4.5 billion of this additional investment will be used to upgrade the tracks and signalling on the main Pakistan railway line (from Karachi to Peshawar), and to increase the speed on the line from 60 – 80 km/hr to 160 km/hr.

Iqbal reportedly added that another US$4 billion will be used for an LNG terminal and transmission line.

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