OREANDA-NEWS. March 12, 2014. In the presence of Chinese President Xi Jinping and his Pakistani counterpart Mamnoon Hussain who was paying a visit to China, CCCC President Chen Fenjian and Pakistan's Minister of Planning Development and Reform Ahsan Iqbal signed the Memorandum of Understanding (MOU) on construction of Pakistan's New Gwadar International Airport at the Great Hall of the People.

Under the MOU, the two sides agreed that CCCC should be in charge of financing and construction of New Gwadar International Airport. As CCCC's another infrastructural project in Gwadar signed by CCCC with Pakistan after Gwadar Port Highway, the project marks that CCCC will comprehensively launch Gwadar's infrastructural construction, and raises the curtain of comprehensive utilization of Gwadar Port and development of Sino-Pakistani Economic Corridor.

Meanwhile, CCCC's subsidiary CRBC signed the MOU on the extension of Karakoram Highway with Pakistan. As an important connecting section of Sino-Pakistani Economic Corridor, Phase 1 of Karakoram Highway was completed in November 2013 and the extension construction will commence as early as possible.

Since Premier Li Keqiang proposed construction of Sino-Pakistani Economic Corridor during his visit to Pakistan in May 2013, by their years of business foundation and outstanding performance in Pakistan, CCCC and its subsidiaries CHEC and CRBC have played a positive role in the planning and construction of Sino-Pakistani Economic Corridor, an array of traffic infrastructural projects CCCC were involved in have been listed in the Early Harvest Program by both nations.