Chinese firm to develop special economic zone in Pakistan
9 years, 4 months ago

Chinese firm to develop special economic zone in Pakistan

China Daily  

Photo shows the Pakistan's first deep sea port in Gwadar, Pakistan, April 1, 2007. SOE gets 43-year lease for 152 hectares of land in Pakistani port China Overseas Port Holding Co Ltd, the State-owned company which operates the Gwadar port in Pakistan, has got permission to set up a special economic zone spread over 152 hectares in the strategic deep-water seaport. As part of the agreement, the Chinese company, based in Hong Kong, will be in full charge of Gwadar Port, the third-largest port in Pakistan, the international airport and a sea area management company in Gwadar, Pakistani media said. The Pakistan port will be jointly built by port infrastructure companies Zhuhai Port Holdings Group Co Ltd and China Overseas Port Holding. Wang Shida, an expert on Afghanistan at the Beijing-based China Institute of Contemporary International Relations, said China has already invested more than $40 billion for the development of China-Pakistan Economic Corridor and Gwadar Port will play an important role in the economic prosperity of both nations.

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