PR No.30 FOLLOW-UP MEETING ON USD 3.1 BILLION KARACHI COASTAL COMPREHENSIVE DEVELOP

Federal Minister for Maritime Affairs, Syed Faisal Ali Subzwari warmly welcomed the Vice President of China Road and Bridge Corporation (CRBC), Mr. Ye Chengyin and his team at the Ministry of Maritime Affairs. The meeting was attended by Federal Secretary Maritime Affairs, Mr. Mathar Niaz Rana, Additional Secretary, Mr. Asad Rafi Chandna, Chairman KPT, Mr. Tariq Huda, General Manager CRBC, Mr. Lyu Ming and other senior officers. Mr. Ye presented the brief profile of the company and stated that China Road and Bridge Corporation (CRBC) is one of the four largest Chinese State-owned companies that first entered the international contracting market. With branches and offices in nearly 60 countries and regions in Asia, Africa, Europe and the Americas. CRBC mainly undertakes contracting, investment, development and operation of road, bridge, port, railway, airport, tunnel, real estate and industrial park project. CRBC Pakistan office has been actively engaged in the construction and investment in Pakistan since 1966. In line with the focus of CPEC Phase-II and the principle of green and sustainable development, CRBC has initiated the blueprint for Karachi Coastal Comprehensive Development Zone project (KCCDZ). With an ultra-modern urban infrastructure zone, KCCDZ will provide residential resettlement to improve local living standards, integrate emerging industries including IT, fashion, media, etc., improve the marine ecosystem and bring enormous potential for global investors. Mr. Ye said that he prepared the updated project master plan and feasibility study report and excluded the earlier proposed inclusion of 400 Acres Machar Colony from the Plan. The Minister for Maritime Affairs appreciated the revised project and feasibility study presented and assured complete assistance from KPT and the Ministry of Maritime Affairs. He stated that for the project to be viable, realistic and pragmatic approach is required. He asked the CRBC to explore alternate solutions for provision of water, gas and electricity since the amenities are already in short supply in Karachi. He further directed Chairman KPT to involve all the concerned stakeholders to review the revised plan. On his concluding remarks, Mr. Ye extended kind invitation to the Minister to visit CRBC headquarters after the Prime Minister's visit to China. Concluding, Minister reiterated that the Ministry is excited to collaborate with CRBC. He asked Chairman KPT to hold meetings with the CRBC and review the revised plan and present way forward without delay. The meeting ended with the vote of thanks and exchange of souvenirs.

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