China's president is set to arrive in Pakistan on Monday for a two-day visit to launch a $46 billion project to build a China-Pakistan economic corridor, linking the two countries.

Chinese President Xi Jinping is set to hold two days of talks in Pakistan, meeting with Pakistan's President Mamnoon Hussain, Prime Minister Nawaz Sharif and other ministers. The Chinese leader is also expected to address the country's parliament on Tuesday.

The main purpose of the high-profile visit is to launch a $46 billion investment project: the construction of the so-called China-Pakistan Economic Corridor (CPEC).

This planned network of roads, railways and energy projects is expected to stretch 3,000km, linking Pakistan's deepwater port city of Gwadar on the Arabian Sea with China's far-western Xinjiang region. It would shorten the route for China's energy imports, bypassing the Strait of Malacca between Malaysia and Indonesia, a bottleneck which risks being blockaded during wartime.

China has promised to invest about $34 billion into energy projects and nearly $12 billion into infrastructure.

Deals worth some $28bn are ready to be signed during the visit, with the rest to follow. The sum is expected to significantly outweigh American investment in Pakistan.

Some $15.5 bln worth of coal, wind, solar and hydro energy projects will come online by 2017, adding 10,400 megawatts of energy to Pakistan's national grid, according to officials.

A $44 mln optical fiber cable between the two countries is also due to be built.

If the submarine deal is signed, China may also offer Pakistan concessions on building a refueling and mechanical station in Gwadar, a defense analyst said.

China's own submarines could use the station to extend their range in the Indian Ocean.