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2018 China Pakistan Economic Corridor Investment Agreement; [APPROVED]
Topic Started: Jan 7 2018, 01:05 PM (47 Views)
Vonar Roberts

2018 China Pakistan Economic Corridor Investment Agreement


Preamble:
Recognizing the incredible value in a bilateral partnership the People's Republic of China and the Islamic Republic of Pakistan have seen fit to further elaborate upon initial investments outlined in China-Pakistan Economic Corridor (CPEC) & move to deepen our bilateral economic ties.

Railway investment:
A new railway, extension will see new track laid from Gwadar to Karachi, providing the port with a connection to China-proper via the Kashgar-Hotan Railway.
A new railway extension will see new track laid from Havelian station to the Pakistan-China border town of Khunjerab where it will link up with China's Kashgar–Hotan Railway. This is a distance of about 750 km. The track will be double tracked with support for freight trains of varying loads traveling at 60 kph, or passenger trains traveling at 130 kph.
China Railways & Pakistan Railways will enter into a 50/50 partnership to build the Havelian Kashgar Railway & the Gwadar Karachi railway Current projections place the cost of the two railway projects at $15.05 Billion USD.



Oil & Natural Gas investment:
Sinopec will work closely in a 50/50 partnership with Pakistan State Oil to develop the Attock, and Toot Oil fields both of which are located near Sui, Pakistan.
Sinopec will also work closely in a 50/50 partnership with Pakistan State Oil to develop the Natural Gas deposits at Sui, and Kandakot in a 50/50 partnership. All together likely $2 Billion USD a year is to be invested in developing the Oil and Natural gas deposits in Pakistan.

Pipeline Investment:
A dual Oil & Natural Gas pipeline will be construction from Gwadar-Kashgar oil & Gas pipeline capable of carrying 1 million barrels per day (1MMBD)
This pipeline will be jointly through a 50/50 joint venture between China National Petroleum Corporation (CNPC) & Frontier Works Organisation with the People's Bank of China financing the project. Under this program new Oil & LNG import terminals will be built at Gwadar, and a pipeline will link Gwadar with Kashgar.


Pakistan International Airlines-Post Privatization Maintenance & Aircraft purchase Agreement:
Guangzhou Aircraft Maintenance and Engineering Corporation (GAMECO) will as of Q1 2018 take over PIA's aircraft maintenance, repair, and overhaul (MRO) facilities as a subsidiary organization, bringing a culture of constant maintenance and improvement to the aircraft repair industry in Pakistan.Under this agreement the newly revamped Pakistan International Airlines has agreed to purchase 10 ARJ-21's with the option of a future purchase of 15 ARJ-21. The People's Bank of China has agreed to finance the $230 Million USD purchase at a favorable rate of 2%, financed over 10 years. Pakistan International Airlines also has agreed to be COMAC's launch-customer for the CR-929, China's, and Russia's wide-body commercial jet with a minimum commitment of a purchase of 10 jets with the option to purchase 10 more with the goal of cutting operational costs & streamlining logistics by replacing PIA's aging fleet of Boeing 777's & Airbus A320's and further streamline the logistical network.


Pakistan International Airlines- Air China Code Share Agreement:
This agreement allows both companies to sell unsold seats on the other's aircraft that have regularly schedule flights between city's as agreed upon by both companies.


Energy Infrastructure Agreement:
State Grid of China will help build a 4000 MW power transmission line in Pakistan in a project valued at $1.5 billion. Ministry of Water and Power and the State Grid Corporation of China will work closely to build an interconnecting electricity grid. State grid of China will also be contracted to build and operate a 4500 Mw worth of power generation & the refurbishment of existing transmission lines in Pakistan in a effort to cure Pakistan's persistent brownouts. Additionally a ultra high-voltage (UHV) line will be built linking the Chinese & Pakistan energy grids together will be constructed, with the goal of linking power grids in the Xinjiong province with those in the Pakistan's North West Frontier Province.


Energy Security:
Sinohydro will build the Kalabagh Dam in Northern Pakistan, taking a 50% stake in the project and if a Notice of Consent from India is granted will also become a major partner in the Diamer-Bhasha Dam project with a 50% stake being secured in it as well. Financing for both projects can be provided through the People's Bank of China.
Suntech Power also will win a concession to build $250 Million USD worth of small scale rural solar power with the project being paid for by the Asian Infrastructure Investment Bank (AIIB).

Currency Swap Agreement:
China and Pakistan agree to allow the Yuan to be used for imports, exports and financing transactions for bilateral trade and investment activities instead of the US Dollar.
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Redbirdfan
Bundesrepublik Deutschland
Signed,
Prime Minister Shahid Khaqan Abbasi
Prime Minister of the Islamic Republic of Pakistan
XXXXXXX

Foreign Minister Khawaja Muhammad Asif
Foreign Minister of the Islamic Republic of Pakistan
XXXXXXX
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Vonar Roberts

Signed,
Xi Jinping
President of the People's Republic of China
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Jos1311
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Head Admin
APPROVED

Pakistan:
Domestic popularity: +3.00%
Domestic popularity: -1.00%
-US$3.5bn annual funding | FY2019-2024
GDP Growth: +5.00% | FY2019-2024
Inflation: +0.2%
Railway projects expected to take some 6 years and are scheduled to be completed in late 2024. The airlines part, the Energy Infrastructure part will take until 2021 before completed. Contact me in late 2021 for additional results.

China:
Domestic popularity: +1.00%
Domestic popularity: -0.50%
International popularity: +0.25%
-US$3.5bn annual funding | FY2019-2024
GDP Growth: +0.20% | FY2019-2024
Inflation: +0.10% | RMB becomes more volatile due to currency swap agreement
Effects of currency swap are minimal, and are more a political statement. At the same time it will severely increase the volatility of the RMB, which is not necessary a good development for China and the Chinese public itself.
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