The cost of the Gwadar Expressway has been fixed at $168m, an increase of around 25pc which was approved by the Executive Committee of National Economic Council (ECNEC). This project is part of the China-Pakistan Economic corridor (CPEC) and ECNEC has amended and updated the Investment Control Cost of the Gwadar Expressway. Originally this project was slated to be built at a cost of $134.2m.
Under the CPEC project, China has been extending interest free loans due to which the contracts to be awarded for them will be done on a government to government mode. Three Chinese companies namely China State Engineering Construction Company, China Communication Construction Company and CATIC Civil are in the race for this infrastructural project.
According to sources, the Prime Minister Nawaz Sharif is yet to ratify the agreement in regard to this project. This may be done on the sidelines of the One-Belt-One-Road summit being held in China this week which the PM will be attending.
