Islamabad, Federal Minister for Planning Development & Special on Friday chaired a meeting to review progress over Karachi Coastal Comprehensive Development Zone (KCCDZ).
The meeting was attended by Federal Minister for Maritime Affairs, Secretary Maritime Affairs, Secretary Board of Investment, Chief Economist & PD CPEC, CEO P3A, and senior officials from CPEC Secretariat, Karachi Port Trust and Govt of Sindh.
The KCCDZ, spreading over 687 hectares and estimated cost of 3.1 billion US$, is being conceived to be an international business bay area, future high-tech knowledge-economy sectors, hub for global young talents and entrepreneurs, showcase of world-class waterfront lifestyle, to be located around Western backwater area of Karachi Port.
The Scope of project also includes Karachi new industrial city, external connection roads, breakwaters and coastal bridge, cruise terminal, seawater desalination plants, and environment improvement works.
The Karachi Port Trust through Ministry of Maritime Affairs is the leading federal organization for executing the project in consultation with all stakeholders.
In accordance with instructions of Federal Planning Minister, a high level committee under the Chairmanship of Secretary Maritime Affairs, with all relevant stakeholders including Govt. of Sindh, has also been constituted today for formulation of an action plan and firming up of timelines of the Project so as to be a deliverable for 12th JCC, being scheduled in July 2023.