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