ISLAMABAD: Pakistan is poised to finalize a revised agreement on the ML-1 project with China as part of the China-Pakistan Economic Corridor (CPEC) during the ongoing visit of the Pakistani Prime Minister to China.
The ML-1 project aims to establish a dual-track railway spanning 1,733 km from Peshawar to Karachi, enabling train speeds between 140 to 160 km/h.
This initiative is expected to significantly increase the market freight share of the railways from four percent to 20 percent, creating job opportunities for 20,000 technical experts and boosting Pakistan’s labor ratio to 90 percent.
A new financing agreement for the ML-1 project is on the verge of finalization. Pakistan and China are set to sign the agreement to address the financial challenges confronting this major infrastructure project, according to sources.
China is anticipated to provide 85 percent of the funding for the ML-1 project, with Pakistan contributing the remaining 15 percent from its own resources. The initial phase will prioritize track upgrades from Nawabshah to Rohri, Lahore to Multan, and Lahore to Lala Musa, key sections essential for enhancing the overall efficiency of the railway network.
The subsequent phase will focus on upgrading the Kemari to Hyderabad and Hyderabad to Multan sections, crucial for improving connectivity in these areas. The final phase will encompass the Lala Musa to Rawalpindi and Rawalpindi to Peshawar sections, along with enhancements to the Havelian Dry Port, a vital facility for cargo handling.
