Pakistan, China to ink separate ML-1 deals under CPEC

ISLAMABAD (PEN) : Pakistan and China will sign separate agreements for Phase-I and Phase-II of the $6.8 billion Mainline One (ML-1) railway project under CPEC. Phase-I, valued at $3.2 billion, focuses on upgrading the Karachi to Multan section, while Phase-II will involve building the Multan to Peshawar line, pending a feasibility study. Financing terms for Phase-I are being finalized, with Pakistan seeking low-interest loans from China. The project aims to modernize Pakistan’s railway network, enhancing speed, capacity, and regional connectivity.