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China hikes investment in CPEC to $62bn from $55bn

Staff Writer |
China has again upped its investment in Pakistan in the China Pakistan Economic Corridor (CPEC), this time t $62 billion from $55 billion, The Express Tribune reported.

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The additional financing is for infrastructure projects and industrial zones in Pakistan under CPEC.

The volume of China's investment in Pakistan would be significantly higher than $62 billion if its private sector investment is also counted.

China's initial investment for CPEC in Pakistan was $46 billion in 2015; that number has been steadily going up with increasing investments required in Pakistan's infrastructure and power projects.

A major chunk of the multibillion-dollar investment, $34 billion, is going into electricity production and distribution.

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