Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Pakistan government has given a green signal to the Mainline-I (ML-1) rail upgradation project between Peshawar and Karachi under the China Pakistan Economic Corridor (CPEC), according to local media. The project entails an investment of $7.2bn and is expected to boost steel demand in the country.


The project involves modernisation, dualisation and ramping up of speed of passenger trains from 110 to 160kms per hour with the length of 1,872km railway track from Peshawar to Karachi. The main railway would link the southern Chinese city of Kashgar with the Gwadar port on the southwest coast of Balochistan province.


Following the approval, the government will proceed with final negotiations for funding the projects with China and the International Monetary Fund. The project is likely to complete by December 2024.


CPEC projects worth $62bn aims to strengthen Pakistan’s economy by upgrading its infrastructure and building modern networks, transports and energy projects.

Leave a Reply

Your email address will not be published.