
Pakistan hands over 2000 acres to China in Gwadar port city
India TV NewsIslamabad/Beijing: Pakistan and China today kicked off their ambitious USD 46 billion economic corridor project with Beijing acquiring over 2,000 acres of land in restive Balochistan to develop the strategic Gwadar port, providing the Communist-giant an opening to the Arabian Sea. Asked about the deal between the two close allies at the Gwadar port city, which will get linked to China's Kashgar city in Xinjiang through a network of roads and oil pipelines, Chinese Foreign Ministry spokesman Hong Lei said that the port development is a mutually beneficial project. The 43-year lease will see the government of Baluchistan province in southwestern Pakistan provide a 923-hectare swathe of tax-exempt land as part of the CEPC which links western China to the Arabian Sea. Gwadar, on the shores of the Arabian Sea in Pakistan's western province of Balochistan, has strategic importance in terms of its location between South and Central Asia and the Middle East as it is situated at the mouth of the Persian Gulf and close to several important sea routes like the Straits of Hormuz, through which 20 per cent of the global oil shipments pass.
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