Overview
- Pakistan’s Economic Coordination Committee endorsed definitive agreements and financial commitments that clear the project’s formal start.
- The committee raised the Phase I cost to about $7.7 billion and increased the debt component to $3.5 billion, adding interest costs and higher shareholder contributions, according to officials.
- The ECC approved $390 million in bridge financing for a rail link to move ore to Karachi, described as a 1,350 km route in official releases, with one report citing 880 km.
- Ministries must submit agreement documents to the Finance Division for appraisal, bring any material execution changes back to the ECC, and provide an implementation update by March 2026.
- Local reporting of technical documents indicates production could begin by end‑2028 with Phase I completion in 2029.