Omani firm to invest in Jacobabad-Gwadar railway
Islamabad: News sources say that Anvwar Asian Investments (AAI), a company based in Oman, wants to help pay for the 1,087-kilometer railway line that will connect Gwadar and Jacobabad. The company has offered to invest USD 2.3 billion, starting with an investment of USD 500 million.
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Reports say that AAI officials met with officials from the Board of Investment (BoI) last month to talk about the project’s viability. The Omani business said they would start building the first high-speed rail link between Gwadar and Jacobabad as soon as possible. This will be the first project in the China-Pakistan Economic Corridor to build a rail link (CPEC).
A Singaporean company called Pathfinder has also said it wants to invest $5 billion in building a high-speed rail line between Gwadar and Hub (Baluchistan). The final investment choice, though, will be made by the government of Pakistan.
Pakistan and China are also talking about how to build the Railway Main Line-1 (ML-1) project, which is also important to know. The project has been put at the top of the agenda for the next meeting of the Joint Coordination Committee (JCC).