LATEST RAILWAY NEWS
22 Jul 2017 Sat

China to Fund Pakistan’s Railway Project

Pakistan refuses part financing from the Asian Development Bank (ADB) following China interest.

06 May 2017 Saturday, 03:13
Railway News

Pakistan has refused part financing from the Asian Development Bank (ADB) for its Karachi-Peshawar rail line following China’s interest in “single-handedly funding the project”.

[quote font_size=”16″ arrow=”yes”]“China strongly argued that two-sourced financing would create problems and the project would suffer,” [/quote]Pakistan’s Minister for Planning and Development Ahsan Iqbal was on Friday quoted by Dawn news as saying.
The minister said the entire financing of the $8 billion project — originally planned to be partly funded by the Manila-based ADB — would come from China, the report said.
Pakistan and China are expected to sign a formal agreement in this regard next month.
The ADB had to provide $3.5 billion for the 1,700-km Karachi-Peshawar line, considered the backbone of the country’s logistics and is one of the four main railway lines in Pakistan.

About railwaynews

Railwaynews.net is a railway information and news platform. Website presents from all around the world railway sector news, developments, projects and tender for the sector specialists. Railwaynews supports to industry events and announced them for potential participants. Railwaynews plans to collecting data from all around the world, about railway infrastructure, rolling stock, railway transportation datum, geographical datum to present for railway professionals for short term. Railwaynews will build new platforms aims to high value railway business environment for all railway specialists, railway fans and especially railway suppliers and their decision makers. Railwaynews presents whole information from rail professionals to rail professionals.

Yorum yazın...

Your email address will not be published. Required fields are marked *

Wordpress Haber Teması Tasarım ve Programlama: Seçkin Talanöz