ISLAMABAD: Pakistan plans to upgrade its railway infrastructure and extend the network to Reko Diq, a massive copper and gold mining project in southwestern Balochistan province, as Prime Minister Shehbaz Sharif on Tuesday instructed officials to set up an inter-ministerial committee for the project.
The move aims to support future cargo and transport needs, particularly as Reko Diq, one of the world’s largest undeveloped copper-gold deposits, is set to begin production within three years.
The mine is being developed by Barrick Gold, which holds a 50 percent stake, with the remaining share held jointly by Pakistan’s federal and provincial governments. The company has projected the project will generate up to $74 billion in free cash flow over its expected 37-year lifespan.
“The Prime Minister directed that Reko Diq be connected to the railway network by 2028,” Sharif’s office said in a statement circulated after the meeting. “The Prime Minister instructed the formation of an inter-ministerial committee to explore financing options for the upgrade and expansion of the railway system.”
“The committee will present concrete proposals regarding the financing required for the development of Pakistan Railways and its extension to Reko Diq,” it added.
