The port and shipping minister strongly refuted a news item telecast by a private TV channel that the Gwadar Port Authority wants to cancel the contract of a Chinese company. PHOTO: AFP/FILE
The projects include an airport, schools, hospital, vocational training institutes, projects for uplift of fishermen and fish industry, and upgradation of Gwadar's infrastructure.
The government will invest $1.2 billion on the port between 24-36 months, he said.
Michael said that a Chinese delegation had just completed a three-day visit to the port. He said that the outcome of the talks with the chief executive of the Chinese company involved have been very positive and optimistic.
The Ministry of Ports and Shipping is hoping to sign memoranda of understandings with various Europeanc countries by the end of March for new avenues of cooperation.
The port and shipping minister strongly refuted a news item telecast by a private TV channel that the Gwadar Port Authority wants to cancel the contract of a Chinese company.
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I thought the whole point of "giving" the port to the Chinese was to induce them to spend the money on it's development.
@genesis: I don't understand where you bring these thoughts from. Gawadar can be a gateway to Central Asia. It will replace Dubai since gawadar is a deep sea port
Pakistan spending big money for whose benefit.It is like paying alimony which one defined as pumping gasoline into another man's car!