Shahbaz Zafar 0 Comments

China keen to develop, operate industrial park in Gwadar

KARACHI: An official group of 15 Chinese investors has shown keen interest in developing and operating an industrial park in Gwadar, Balochistan, and other parts of the province, an official source said on Thursday.
“The Chinese investors expressed their interest to jointly work as industrial park / free zone operators, developers and investors. They expressed their readiness in establishment of fish processing units, assembly plants, marble processing, cement and steel making industries as well as, coal based, wind and solar plants for Gwadar Port, Gwadar Industrial / Free Zone the city itself,” a handout of Gwadar Port Authority said.
The delegation was led by Liu Jin M, general manager of Investment Banking Department, Industrial and Commercial Bank of China (ICBC) – one of the largest banks at world across. It also included investors from Holly Group, and Chinese and Pakistani staffers of Habib Bank Limited Pakistan. Thursday was the last day of their three-day visit to Gwadar, it was learnt.
The source said that the delegates have shown interest in acquiring land in the vicinity of Gwadar Port Free Zone for developing the park. They also showed interest in acquiring the land from Gwadar Industrial Estate and Development Authority (GIEDA) for the park, he said.
“I cannot confirm the size of the land on which they (Chinese) want to develop the park. However, I can tell you that GIEDA owns about 2,000 acre of land which is about 40 kilometer away from city of Gwadar, while Gwadar Port Free Zone owns about 923 hectare (2,281 acre),” he said.
This was the fourth visit of Chinese investors since January 2014. The visit was in line with a series of policy initiatives under China Pakistan Economic Corridor (CPEC) and bilateral and multilateral understandings between different Chinese and Pakistani public-sector, as well as private sector companies and organizations, he said.
The main objective of visit of this delegation was to have an on-site investigation for top priority Industrial Park at Gwadar. “The other such two proposed industrial parks are at Lahore and Faisalabad,” he said. One of the previous Chinese delegations kept its focus on development of roads and railways network between China and Gwadar and connecting Gwadar port to the central Asia.

via China keen to develop, operate industrial park in Gwadar – thenews.com.pk.