ISLAMABAD: The meetings on the sidelines of the Shanghai Cooperation Organization (SCO) Summit hold significant promise for Pakistan, with expectations of signing investment agreements worth $11 billion with China, Russia, and other member states.
Key memorandums of understanding (MoUs) are anticipated in various sectors, including IT, agriculture, infrastructure, and the Main Line-I (ML-I) railway project.
Pakistan is likely to sign a $6.8 billion investment agreement with China for the ML-I railway, which will be executed in three phases. The first phase is projected to cost $2.7 billion, while the second phase is estimated at $2.6 billion, and the final phase will require $1.4 billion.
Another infrastructure initiative on the table is the Sukkur to Hyderabad Motorway, estimated to cost around 400 billion rupees. This segment is part of the larger Karachi to Peshawar motorway project, which will facilitate seamless travel between the two cities.
Discussions are also underway for the Thakot to Raikot section of the Karakoram Highway, with an estimated cost of $1 billion. Additionally, a $2 billion agreement for the Azad Pattan project is likely to be signed; this 700-megawatt project is expected to be completed by 2026.
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China and Pakistan are also set to sign MoUs under the second phase of the China-Pakistan Economic Corridor (CPEC-II).
Furthermore, Pakistan and Russia will engage in talks focused on railway, energy, and infrastructure projects, including upgrading the Quetta-Taftan railway track and discussions around agricultural machinery. There will also be a tractor manufacturing project discussed with Belarus.
The summit will see participation from the prime ministers of China, Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan, along with the vice president of Iran and India’s external affairs minister, representing the member countries.
