Pakistan is set to sign a 40 year lease with a Chinese company to develop a special economic zone in Gwadar.
The scheme is part of the China-Pakistan Economic Corridor (CPEC), an ambitious $46 billion investment plan linking western China to the Arabian Sea with infrastructure, energy and transport projects and for this purpose, a contract assigning the 2300 acre swathe of tax-exempt land to China Overseas Port Holding Company (COPHC) is likely to be signed this month or October, Dostain Khan Jamaldini, chief of the Gwadar Port Authority (GPA) told AFP.
Work on “Gwadar International Airport would be started in next couple of months and the completion of national highway connecting Gwadar with north within next month.
Pakistan prepared a special security force of between 10,000 and 25,000 men to protect the Gwadar port.
Gwadar port was built in 2007 with technical help from Beijing as well as Chinese financial assistance of some $248 million but acquiring the land from private land owners to build the economic zone took several years.
“No doubt, CPEC project is playing the role as a game changer not only for the region but the whole world. Era of infrastructure growth and investment is under process”.