China to provide Rs410m for Gwadar port feasibility study

The two countries ink an agreement to develop a report of the master plan, which will be completed within a year

Shahbaz Rana January 22, 2016
Officials from the two countries sign agreement for the study to be completed within a year

ISLAMABAD: Pakistan and China signed an agreement on Friday to finance the feasibility study of Gwadar port city master plan, aiming at transforming the deep-port city into a regional economic hub.

Secretary economic affairs division Tariq Bajwa and Chinese ambassador Sun Weidong signed the letter of exchange, enabling the latter to provide Rs410 million to finance the study which will be completed within a year.

The two sides discussed implementation mode, objectives, scope and time-frame of the project.

Under the study, the master plan of Gwadar city will be updated and integrated with the master plan of the Gwadar Port.

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It will identify Gwadar’s competitive advantage vis-a-vis regional ports and developing a business case for the port, its contribution to export led growth, market creation, industrialisation, tourism and revenue generation.

The study will also suggest strategies to facilitate trade, tourism, community participation, public-private partnership and industrial and economic development on a national and regional level.

Gwadar Port will be connected with China through road, rail and fibre links to help enhance the bilateral trade.

Oil and gas pipelines are also part of the multibillion-dollar economic corridor in the long term, expecting to provide a much-needed boost to economic activities in the insurgency-hit Balochistan.

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naveed malik | 5 years ago | Reply cpec will lead the region it will create million of jods for the people it is game changer in region gwadar will be business hub not only for asia it will also fot africe and europe
Tyggar | 5 years ago | Reply @shah: Port or city what difference does it make. It's still conflict of interest when China funds a study where one of the possible outcomes is profitable to China
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