Media: Pakistan expects $1bn from Russia and UAE to modernise railway infrastructure

Pakistani authorities plan to receive approximately $1bn in investment from Russia and the United Arab Emirates to modernise its railway infrastructure, TASS reports

photo: www.geo.tv

According to The Express Tribune, the Russian Federation may invest between $550m and $660m to modernise the Quetta-Taftan railway line in the Balochistan Province.

It is noted that this agreement was reached during the visit of a delegation of the Pakistani railway department to Russia in December 2023. The two sides are currently actively working to sign a corresponding intergovernmental framework agreement.

The publication also clarifies that the UAE is preparing to invest up to $400m in the Pakistani railway sector. This investment will be used to build a freight corridor from Karachi to the Pipri marshalling yard located near Port Qasim, as well as develop a multimodal logistic hub at Pipri. Work on the corresponding intergovernmental agreement is already underway. It is also known that the UAE is involved in the construction of a large oil refinery in Pakistan.