Pakistan’s Gwadar port leased to Chinese company for 40 years

The China Overseas Port Holding Company (COPHC) would carry out all the development work on the port on the Arabian Sea.

By: PTI | Islamabad | Published:April 20, 2017 9:42 pm
Pakistan port, Gwadar port, Gwadar, Gwadar port development, China Overseas Port Holding Company, COPHC, Chinese company, Pakistan news, india news, indian express news Boys sit on a piece of styrofoam sheet as they search for crabs in front of the Gwadar port, Pakistan April 11, 2017. (Source:  Reuters)

A state-run Chinese company will handle the operations of Pakistan’s strategic Gwadar port for a period of 40 years, the government said on Thursday. Minister for Ports and Shipping Mir Hasil Khan Bizenjo said the China Overseas Port Holding Company (COPHC) would carry out all the development work on the port on the Arabian Sea.

The COPHC has 91 per cent share of revenue collection from gross revenue of terminal and marine operations and 85 per cent share from gross revenue of free zone operation, he was quoted as saying by The Nation. The provinces have no share in revenue collection as per the constitution.

Gwadar forms the southern Pakistan hub of a USD 57 billion China-Pakistan Economic Corridor (CPEC) of infrastructure and energy projects Beijing announced in 2014. Last year, Pakistan welcomed the first large shipment of Chinese goods at Gwadar, where the COPHC took over operations in 2013. It plans to eventually handle 300 million to 400 million tonnes of cargo a year.

It also aims to develop seafood processing plants in a nearby free trade zone sprawled over 2,281 acres. The route through Gwadar offers China its shortest path to the oil-rich Middle East, Africa, and most of the Western hemisphere, besides promising to open up remote, landlocked Xinjiang.

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  1. A
    Alif Hakimi
    Apr 21, 2017 at 2:51 pm
    God will bless stan whenever there is anything Indians dislike or complained about. Like the development of Gwadar port. All Indians hope Gwadar port will be like what it was decade ago, a dead port. Indians worry and jealous of the development of Gwadar port. Does India has any project that is worth over 40 billions US$ ? That's why Indians became Sour Grape on Gwadar Port. When the Chabahar port which is under Indial's development will be ready ? 100 years later ? May be......
    Reply
    1. A
      Aditya
      Apr 21, 2017 at 5:14 pm
      For your information alif, 40billion us$ is nowhere against indian infrastructures...Our alone Delhi Mumbai industrial corridor is worth 96billion us$ and it's just a pearl in the string..There are many more
      Reply
    2. S
      Shahbaz Younis
      Apr 21, 2017 at 1:35 pm
      Dear India this is non of your business
      Reply
      1. R
        Romik
        Apr 21, 2017 at 7:13 am
        All of Pakancer has been leased. Now there will be spread of Pakancer to China!
        Reply
        1. R
          Ramesh
          Apr 21, 2017 at 6:23 am
          Very soon, w of stan would be leased to China.
          Reply