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Chinese multinational

Chinese multinational offers to build crucial rail link

Karachi: A conglomerate of two leading Chinese construction companies, China Railway Engineering Corporation and Sinotec, has offered to construct the Gwadar-Khunjrab Rail Link at an estimated cost of Rs250 billion. This cost includes Rs160 billion for infrastructure and Rs90 billion for locomotives on electric traction. This investment is designed on a four-year, soft-loan term basis. The offer was made to Minister for Railways Khwaja Sa’ad Rafique on behalf of the consortium in a detailed presentation carried out by Song…