Pakistan and China Sign $500 Millions Deals

Pakistan signed new deals with China worth nearly $500 million. The memorandums of understanding add to the $57 billion already pledged for the China-Pakistan Economic Corridor (CPEC), a network of rail, road and energy projects — part of OBOR.

Among the $493 million in deals signed were two cooperation agreements worth $333 million for Gwadar airport and the establishment of Havelian Dry Port.

A $160 million agreement on economic and technical cooperation for the East Bay Expressway linking Gwadar to Pakistan’s existing highway system was signed as well.