China–Pakistan Economic Corridor (CPEC) is a collection of infrastructure projects that are currently under construction throughout Pakistan. Originally valued at $46 billion, the value of CPEC projects is now worth $62 billion. CPEC is intended to rapidly modernize Pakistani infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects, and special economic zones.
China–Pakistan Economic Corridor (CPEC)
On 13 November 2016, CPEC became partly operational when Chinese cargo was transported overland to Gwadar Port for onward maritime shipment to Africa and West Asia, while some major power projects were commissioned by late 2017. A 1,100 kilometre long motorway will be built between Karachi and Lahore as part of CPEC, while the Karakoram Highway between Rawalpindi and the Chinese border will be completely reconstructed and overhauled.
A network of pipelines to transport liquefied natural gas and oil will also be laid as part of the project, including a $2.5 billion pipeline between Gwadar and Nawabshah to eventually transport gas from Iran. Electricity from these projects will primarily be generated from fossil fuels, though hydroelectric and wind-power projects are also included, as is the construction of one of the world's largest solar farms.
CPEC's potential impact on Pakistan has been likened to that of the Marshall Plan undertaken by the United States in post-war Europe. CPEC is seen as the main plank of Chinese President Xi Jinping's Belt and Road Initiative.