In an effort to lessen its reliance on Western commerce, China has put out its most expensive Belt and Road Initiative proposal to connecting Pakistan to western China, which includes a $58 billion railway link. A report published in Fox News has said.
The state-owned China Railway First Survey and Design Institute Group Co Ltd. experts examined the $57.7 billion proposal and found that despite its heavy price tag, the investment is worthwhile, the South China Morning Post stated.
According to the proposal’s assessment board, the 1,860-mile rail line, which would link the Chinese city of Kashgar to the Pakistani port of Gwadar in the Xinjiang Uygur autonomous region, has the potential to alter both trade and geopolitics.
The Chinese team of analysts stated in a report earlier this month in the Chinese journal Railway Transport and Economy that “the government and financial institutions should provide strong support, increase coordination and collaboration among relevant domestic departments, strive for the injection of support funds, and provide strong policy support and guarantees for the construction of this project.”
The world’s top producer will have access to more direct trade channels thanks to China’s newest rail line, which will link it to the Arabian Sea.
South China Morning Post’s report said that it was also anticipated to spur the development of new railway networks that might link China with Turkey and Iran, greatly enhancing direct access to the two countries.