April 24, 2002	Wednesday	Safar 10, 1423

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ISLAMABAD, April 23: Federal Minister for Communications and Railways Lt-Gen (retired) Javed Asharf Qazi said here on Tuesday that economic cooperation between Pakistan and China would further cement mutual relations between the two countries.

He was speaking on the occasion of an agreement signing ceremony between the Pakistan Railways and China Railways Materials and Supplies Corporation.

Javed Asharf said Pakistan-China friendship was higher than mountains and deeper than oceans.

Later, a contract for the procurement of 52,000 metric tons railways material was signed between the PR and CRMASC.

The contract was signed by Saeeduz Zafar, Chairman of the Railways Board, and Liu Guoping, Vice President of the CRMASC.

The rails being procured are heavier than the exiting rails of the PR. The induction of these rails would permit operation of trains at higher speed and enhance load capacity.

The total contract amount is $22,152,000 out of which 15 per cent is being financed by Pakistan government whereas the remaining is to be financed through a supplier credit loan of soft-term being provided by the EXIM Bank of China.—NNI