The relationship between China and Pakistan is growing with each passing day. Subsequently, the investors from China are in preparations to develop an automobile city in Gwadar. The initiative is going to be placed under the umbrella of China-Pakistan Economic Corridor (CPEC).
Chinese investors have been quite keen and eager about the project, and paperwork related to the aforementioned initiatives has already been initiated. The sources closer to CPEC project, spoke about the latest development, as per the private news channel.
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The experts are of the view that the holders of local automobile industry should stay in constant touch with Chinese investors to begin any joint venture. According to the analysts, the collaboration will help in transmitting technology. Moreover, it will also enhance and lift the local automobile industry. It is also pertinent to mention that China has also announced establishment of a steel factory under CPEC.
China and Gwadar Port
Under the ‘One-Belt One-Road’ project, China is building Gwadar Port as a commercial and strategic center. The project is inclined to bring prosperity in the entire region. China-Pakistan Economic Corridor is the jugular vein of the ‘One-Belt One-Road’ initiative.
By cancelling a deal with a Singapore company, the government of Pakistan handed over the port of Gwadar to the Chinese company in 2013. The reason Pakistan invalidated its deal with a Singapore company is because it could not build the port even taking over in 2007. It is noteworthy to state that the ECC accepted all the changes in the Gwadar Port Concession Agreement for operating and building the Gwadar port and free zone.
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On 31st October 2016, the multibillion-dollar project officially, and finally, became functional between the two countries when several Chinese trucks encumbered with goods arrived at the Sost dry port in Gilgit-Baltistan.
As far as the CPEC is concerned, it is about 3,000-kilometre long. In addition, it consists of highways, railways and pipelines. The corridor will link the province of China, Xinjiang to the rest of the world through the port of Gwadar.
Do you think Chinese investors would be able to shape automobile city in Gwadar as they are planning?
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