Pakistan likely to sign several MoUs with China, others on SCO sidelines
- By Web Desk -
- Oct 15, 2024
ISLAMABAD: The meetings on sidelines of the Shanghai Cooperation Organization (SCO) Summit have an additional importance for Pakistan with 11 billion dollars MoUs for investment expected with China, Russia and other member states, sources said.
The memorandum of understanding expected to be signed with the IT, agriculture, motorways, ML-I, Azad Pattan and other infrastructure projects, sources said.
Pakistan likely to sign 6.8 billion dollars investment agreement with China for the Main Line-I (ML-I) railway project. The first phase of the ML-I, which will be completed in three phases, costing US$ 2.7 billion.
The second phase of the mega project will be completed with 2.6 bln US$ and 1.4 billion will be spent on the third and final phase of the ML-I railway project.
Another infrastructure project in the line for a likely agreement has been Sukkur to Hyderabad Motorway, costing 400 billion rupees. It is remaining portion of the Karachi to Peshawar motorway project and its completion will enable to travel on motorway all along to Peshawar from Karachi.
Sources said that talks have also been in progress for construction of Thakot to Raikot on the Karakoram Highway. The road project has an estimated cost of US$ one billion.
The signing of US$ two billion cost Azad Pattan project agreement also likely, the 700 megawatt project likely to be completed by 2026.
China and Pakistan will also sign the MoUs of agreements under the CPEC-II phase, sources said.
Pakistan and Russia will hold talks over the railway, energy and infrastructure projects. “Upgradation of Quetta-Taftam railway track, agriculture machinery and equipment will be discussed with Russia”, sources said.
While a tractor manufacturing project will be discussed with Belarus.
The prime ministers of China, Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan as well as the vice president of Iran and the external affairs minister of India representing member countries in the SCO summit.