Gwadar port, Pakistan’s rising star has begun operations with an annual throughput capacity of between 50,000 and 70,000, 20-foot equivalent units. The port has, thus far, created 20,000 jobs for the locals as well.
Talking to the media Chairman, China Communications Construction Co, Liu Qitao shared that the port now operates three multifunctional piers.
This port will not only increase the trade volume but will also encourage the locals to start the large scale and small scale production for various follow up trade activities. The geo-strategic location of this port makes it immensely significant for the business activity throughout the region.
Deputy General Manager of the Gwadar Free Zone Company, Hu Yaozong informed that the construction of Gwadar free zone is now in its third phase out of four. The zone will connect the whole region which will eliminate the communication gaps, he added.
Both the stake holders, Pakistan and China, have agreed to keep the development pace at the maximum. This mega project comprises of many other sub-projects including transport routes and airport as well.
The free zones would be covered in four phases, covering 923 hectares of land. The design is such to take optimum advantage of Balochistan’s rich fishery and mineral resources, which would be pivotal for development of relevant industries for the overseas market and to develop the domestic industry as well.
Explaining the development plan, Yaozong shared that the first round of investment has almost been completed with projects on fishery and electronic motors and business center enterprises moved in. The second phase would witness the construction of a huge stainless steel factory that would create a huge number of jobs in Gwadar for local populace. With further development of the port and free zone, work force around Gwadar would move into Gwadar.
The Gwadar free zone has opened a lot of realms for the investors not only from China and Pakistan but for foreign investors as well. The construction of Gwadar port and free zone will not only be the win-win situation for China and Pakistan but for the whole region. And most importantly prosperity and perpetual growth will be take place in Pakistan.