After lengthy delays, an $8.2 billion revamp of a colonial-era rail line from the Arabian Sea to the foothills of the Hindu Kush has become a test of Pakistan’s ability to rethink signature Chinese “Silk Road” projects. Reuters reports that this is due to debt concerns.
The rail megaproject linking the coastal metropolis of Karachi to the northwestern city of Peshawar is China’s biggest Belt and Road Initiative project in Pakistan. Islamabad, though, has balked at the cost and financing terms.
