China will invest $ 3.5 billion in Pakistani port project
The Chinese government is willing to provide $ 3.5 billion in direct investment rather than a loan to the Karachi Integrated Coastal Development Project KCCDZ.
The investment will be directed to the construction of a multifunctional residential, commercial and port complex in under-utilized areas owned by the port management company Karachi Port Trust.
According to the ministry, a new modern fishing port will be built on this site, as well as a seafood processing zone for subsequent export.
The KCCDZ project also provides for the construction of four new berths on new reclaimed areas, a bridge over the Baba Canal, which will connect the new area with the container terminals of the port of Karachi, and an expansion of the water treatment facilities complex.