Pakistan, China ink $8.5 billion deals

Islamabad: Pakistan and China have formally launched the second phase of the controversial CPEC project and signed 21 agreements and joint ventures worth about USD 8.5 billion.

The MoUs were signed in Beijing on Thursday, on the concluding day of Prime Minister Shehbaz Sharif’s visit to China, when he met with Chinese Premier Li Qiang and attended an investors’ conference. According to the Dawn, the agreements covered cooperation in the development of CPEC 2.0.