Gwadar Port, Free Zone to generate $10bn activities yearly: Asim

Published June 1, 2021
The Gwadar Port’s infrastructural work has been completed by the China Port Holding Company at a cost of around $300 million and all four berths are fully operational. — AFP/File
The Gwadar Port’s infrastructural work has been completed by the China Port Holding Company at a cost of around $300 million and all four berths are fully operational. — AFP/File

GWADAR: After becoming fully operational, the Gwadar Port and Gwadar Free Zone (GFZ) would generate economic activities of around $10 billion per annum, besides creating thousands of new jobs, China-Pakistan Economic Corridor (CPEC) Authority Chairman retired Lt Gen Asim Saleem Bajwa said on Monday.

“Soon after the completion of GFZ, a lot of manufacturing and trading activities will start, cargoes will move, and transshipment activities will increase,” Mr Bajwa said while talking to the media here after reviewing the Gwadar Port and other projects under CPEC. “We will continue to monitor the development work in Gwadar till all projects become fully operational,” Mr Bajwa said. The port’s infrastructural work has been completed by the China Port Holding Company at a cost of around $300 million and all four berths are fully operational.

The official said that during the last few months, over 67,000 tonnes of cargo had been handled at the port, comprising consignments mostly under the Afghan Transit Trade Agreement which were later transported to Afghanistan.

A vessel carrying 8,000 cubic feet liquefied petroleum gas is due at the port on Tuesday while another ship with 24,000 tonnes of diammonium phosphate fertiliser and feed cargo for Afghanistan would arrive here from Australia, he added.

The official said that port handling capacity has been enhanced while the Customs system is also in place to facilitate the investors and traders. Now our full emphasis is to increase the port traffic for which we are pursuing the logistic companies to establish their offices in the city, he added.

With regards to GFZ, Mr Bajwa said the first phase, spread over 60 acres of land, has already been completed, with 47 enterprises registered. Six factories had been completed, three of them were now fully operational, while six others were under construction. For the last three years, he said, both the port and free zone had created some 1,200 direct jobs, while 12,000 more persons were hired for building the support infrastructure.

The second phase of GFZ would be spread over 2,221 acres of land and Prime Minister Imran Khan would perform its ground breaking.

He said the China Port Holding Company had already lined up an investor for the second phase, who would need some 1,600 acres of land. The investor had pledged a direct investment of $3 billion in the single industry that would create 30,000 jobs.

“The Eastbay Expressway would directly take the cargo from port to M-8 for onward shipment to Karachi and the rest of the country. 94 per cent work on the expressway had been completed, which would hopefully be inaugurated in September,” he said. Regarding the reservations of fishermen on the expressway development, he said three bridges were under construction to address their concerns.

Similarly, he said, work on Gwadar Airport is also going on at fast pace while the technical and vocational institutes in the city would also be completed in October. Mr Bajwa said the prime minister had specifically directed to create maximum job opportunities in the area, with capacity building of the local youth by imparting them skill training.

The CPEC Authority chairman said a 150-bed hospital was under construction in the Gwadar city, which was a gift from the Chinese president for the local residents. The master plan of Gwadar City had also been approved and it is now at the implementation stage.

Published in Dawn, June 1st, 2021

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

The price of chocolate

The price of chocolate

Little attention is paid to any long-term strategy which might prevent vulnerable children from working in homes where they are in danger.

Editorial

Cholistan project
Updated 18 Feb, 2025

Cholistan project

GPI goals align with Pakistan's broader economic aims but the manner in which the initiative was launched raises questions.
Right to know
18 Feb, 2025

Right to know

IT is an unfortunate paradox that while on paper Pakistan has some of the most impressive right to information laws,...
Dam dispute
18 Feb, 2025

Dam dispute

THE situation in Chilas needs attention and a fair-minded approach so that it can be resolved amicably. Diamer ...
Climate funding gap
Updated 17 Feb, 2025

Climate funding gap

Pakistan must boost its institutional capacity to develop bankable climate projects.
UN monitoring report
Updated 17 Feb, 2025

UN monitoring report

Pakistan must press Kabul diplomatically over its tolerance of TTP terrorism.
Tax policy reform
17 Feb, 2025

Tax policy reform

THE cabinet’s decision to create a Tax Policy Office at the finance ministry has raised hopes that tax policy is...