CPEC attracts $25 billion investment: official

ISLAMABAD: The Chinese companies have already invested $25 billion in the China-Pakistan Economic Corridor (CPEC)-related projects and further investment is in the pipeline, an official said on Monday.

After a meeting with the delegation of Chinese investors, Special Assistant to the Prime Minister Khalid Mansoor said that in the Phase 1 of CPEC projects worth $13 billion has been completed, whereas work on the projects worth $12 billion was already in progress.

Mansoor said that the work on Phase 2 of CPEC has also been started and some economic zones allocated for CPEC also become operational.

The Chinese companies have already made investment in Allama Iqbal Economic Zone, Mansoor said, adding that in Faisalabad Economic Zone Chinese companies start manufacturing of prefabricated houses.

These 80 to 120 square yards houses will be manufactured in just 40 days. For this purpose, he said a Chinese company invested $20 million. The SAPM said the automobile plant also becomes operational in which two- to three-wheel electric vehicles will be assembled and later manufactured.

Mansoor said that another Chinese company acquired 18 acres of land on which it will manufacture LED lights with an investment of $30 million.

Regarding the problems and grievances of the Chinese investors, he said, the government is resolving their problems on a priority basis. He dispelled the impression that the work on CPEC projects has been stopped. “The chief executives of the Chinese companies visited to express their gratitude to the prime minister,” he said.

Mansoor said that he is in contact with the Chinese Embassy round-the-clock. To facilitate the investors of all the four economic zones, a One-Window Cell will be developed.

Regarding the security, the SAPM said foolproof security has been provided to all the CPEC projects. To a question, he said the terrorist attack on the Chinese workers was made during travelling and not on the site of the project. Further security measures taken by the Army restored the confidence of the Chinese investors, he added.

“Those criticising CPEC can contact us, so that we will convince them on the significance of CPEC,” he added.

When the security situation of Afghanistan will improve the CPEC will make inroads over there, as well.