• Tuesday, November 19, 2019

Pakistan set to sign 40-year lease for Gwadar port with Chinese company

Discussion in 'Pakistan Economy' started by ghazi52, Sep 9, 2015.

  1. ghazi52

    ghazi52 ELITE MEMBER

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    2015

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    Abdul Razzaq Durrani, the director general of GPA, confirmed the deal. PHOTO: REUTERS

    KARACHI: Pakistan is set to sign a 40-year-lease with a Chinese company to develop a massive special economic zone in the deep sea port of Gwadar, officials said Wednesday.

    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.

    The contract assigning the 923 hectare (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.

    As part of the wider plans, “work on the Gwadar International Airport would start in the next couple of months and we are quite hopeful of completion of the national highway connecting Gwadar with the north within the next month”, he added.

    Pakistan is also raising a special security force of between 10,000 and 25,000 men to protect the port, which lies in the restive southwestern province of Balochistan which since 2004 has been roiled by a separatist insurgency.

    Abdul Razzaq Durrani, the director general of GPA, confirmed the deal.

    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 owners to build the economic zone took several years and cost the Baloch government around $62 million, Durrani said.

    The Gwadar deal follows similar deals in other parts of the world, including Africa, Vietnam, Sri Lanka and Bangladesh, says geo-political analyst Simbal Khan.

    “Pakistan is looking at the CPEC project as a game changer, kick starting an era of infrastructure growth and investment. The land deal is just part of the Gwadar port infrastructure that needs to develop to realise the expectations of Pakistan and China from this mega project,” she said.

    ..........
     
  2. Hurter

    Hurter FULL MEMBER

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    Tumhari kyun jal rhi hai? Use some ice cube on burning spot if there is a shortage of burnol.
     
  3. Green Angel

    Green Angel FULL MEMBER

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    KASHMIR BANEGA PAKISTAN....:yahoo:
     
  4. Jazzbot

    Jazzbot ELITE MEMBER

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    Slowly whole india will go bonkers
     
  5. xyxmt

    xyxmt ELITE MEMBER

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    then China will have two border disputes with India, Ladakh and Kashmir lol
     
  6. RealNapster

    RealNapster SENIOR MEMBER

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    We can also Lease you two balls
    ""complementary"" ..

    Brother it's not about incompetency. it's about "my money, my rules"
    At this time we have "Less" money to start and complete such necessary projects. So we will/have to leave china complete those projects.
    and also Karachi port and Port Qasim is completing our needs. So this port is for CHinese trade mainly hence chinese will operate it. "just like that ...
     
  7. aks18

    aks18 SENIOR MEMBER

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  8. MilSpec

    MilSpec PDF THINK TANK: ANALYST

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    congrats, great development for Pakistan. Hopefully CPEC and Gawadar will transform Pakistani economy.
    regards.
     
  9. Tiger Genie

    Tiger Genie BANNED

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    What's the significance of 40 years?
     
  10. Pandora

    Pandora SENIOR MEMBER

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    My father leased land in UAE so does that mean we occupied it? You logic is as good as your face.

    Its for sake of developing the land i.e. Industry etc Same zone will soon be turned into Special economic zone so they are just buying the land to set-up industry while its still cheap.
     
  11. Shot-Caller

    Shot-Caller FULL MEMBER

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    I don't get one thing, will they leave gwadar after 40 years or are they getting the ownership of the land?
     
  12. Pandora

    Pandora SENIOR MEMBER

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    Leased land is like rented apartment. As long as you have contract you can stay there and owner can kick you out any time. Lease doesn't give you ownership of the land.
     
  13. jung41

    jung41 BANNED

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    And your military so strong to take back control from the chinese after the lease period is over..... As bad as your face
     
  14. DESERT FIGHTER

    DESERT FIGHTER ELITE MEMBER

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    Either you ppl are the dumbest breed on planet or just pathetic to your core...

    Developmental lease... It's not "ownership"....(Chinese companies will develop the areas - in joint ventures with atleast 1 Pak partner--- Danes happening at the new Islamabad International Airport-- both chinese and Pak companies are working on it)

    If it were... Than Singaporean port company "owned" gwadar before it was kicked out for its incompetence & violations of the contract..
     
  15. Pangu

    Pangu FULL MEMBER

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    It's a commercial joint-venture, no need to extrapolate beyond it's intented usage.
     
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