East Bay Expressway

The East Bay Expressway is an 18.9 kilometer long controlled access road what is under construction in Gwadar, Pakistan.^[1] The project is expected to be complete by the end of 2017.^[1]

The new 6-lane expressway will connect the Gwadar Port to the Makran Coastal Highway, and being developed by the Gwadar Port Authority .^[2] The project is being developed as part of the "Early Harvest" scheme of China Pakistan Economic Corridor, and is part of a wider $1.62 billion development package for the city and port of Gwadar.^[3]

The cost of the project is approximately $140 million, and will be financed by interest-free loans extended by China's state owned banks.^[4] Pakistan will be required only to repay the principal value of the loan. As a condition for receiving a zero-interest rate loan, bidding for the project was limited to Chinese state-owned companies, and the contract was awarded on a government-to-government basis.^[5]

References

1. "Gwadar port will soon become a game-changer: Michael". Dawn. 19 May 2016. Retrieved 6 July 2016.
2. "Gwadar infrastructure projects to open new avenues of economical opportunities". Customs Today. 2 October 2015. Retrieved 6 July 2016.
3. "Gwadar Expressway, Karachi-Lahore Motorway: Chinese Ambassador for early construction". Business Recorder. 6 June 2015. Retrieved 6 July 2016. China is expected to invest USD 1.62 billion in the Gwadar project, including construction of an expressway linking the harbour and coastline, a rail link, breakwater and other nine projects expected to be completed in three to five years, state-run China Daily reported.
4. Butt, Naveed (3 September 2015). "ECONOMIC CORRIDOR: CHINA TO EXTEND ASSISTANCE AT 1.6 PERCENT INTEREST RATE". Business Recorder. Retrieved 16 December 2015.
5. "Pakistan waives off bidding condition for CPEC projects". The Express Tribune. 14 June 2016. Retrieved 6 July 2016.