Financing matters of ML1 project between Pakistan and China have been settled

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Financing matters of ML1 project between Pakistan and China have been settled

The project will be signed in the first week of August

Financing matters of ML1 project between Pakistan and China have been settled

The financing of the ML1 project between Pakistan and China has been settled, and the ML1 project will be signed in the first week of August.

Due to the special interest of Prime Minister Shehbaz Sharif, significant progress has been made on the M-One project, and the financing of the ML-One project between Pakistan and China has been settled, while sources say that the signing of the ML-One project will take place before August. Will be in a week.

According to sources, the details of the project were finalized under the supervision of the Prime Minister, while Federal Minister for Planning Ahsan Iqbal convinced the Chinese authorities to reduce the cost of the project.

Sources said that the ML1 project will cost 6.5 billion dollars before this cost was 8.5 billion dollars, which was reduced to 6.5 billion dollars, Pakistan insisted on reducing the cost of the project. Pakistan will provide 15% of the total cost of the project.

Under the project, the 1733 km railway track from Karachi to Peshawar will be upgraded and dual-tracked, the latest signals and telecom system will be installed along the railway track, while the train will run at a speed of 160 km per hour. However, initially, the trains will run at a speed of 140 km.

The track fencing program has been delayed in the project, and now only the railway track will be fenced in populated areas.

It should be noted that Eknic approved PC One of the projects in August 2020.

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