Once the port of Gwadar and the Gwadar Free Zone (GFZ) are fully operational, they will generate about $ 10 billion a year in economic activity, in addition to creating thousands of new jobs, said the chairman of the China-Pakistan Economic Corridor (CPEC). Lieutenant General Asim Salim Bajwa.
“Once the construction of the GFZ is complete, there will be a lot of production and commercial activity, freight will be relocated and relocation operations will increase,” Bajwa said, speaking to the media after a tour of Gwadar Port and other CPEC projects.
“We will continue to monitor progress in Gwadar until all projects are fully operational,” he said.
China Port Holding Company has completed $ 300 million port infrastructure, and all four stations are fully operational.
Bajwa said that first phase of Gwadar Free Zone over 60 hectares of land, has been completed and 47 companies have been registered. Six factories have been commissioned, three of them are fully commissioned, and six others are under construction.
He said the second phase would comprise of 2,221 hectares of land on which China Port Holding Company has already attracted investor who will need about 1,600 hectares of land. The investor has pledged $ 3 billion in direct investment in one industry that will create 30,000 jobs.
Bajwa further said that work at Gwadar Airport is also continuing at a fast pace, as technical and professional institutions in the city will also be completed in October. Prime minister is specifically focused on maximizing job opportunities in the area, building the capacity of local youth through skills training.
He said that the master plan for the city of Gwadar has also been approved and is currently being implemented.
In addition, he said that the development of the agricultural sector is the main area of interest, according to the CPEC, and said that he held meetings with the agricultural community from Mirani and other parts of the province.
He said that six Chinese companies are ready to sign lease agreements for 32,500 hectares of land to develop a unique corporate farming model.
Latest posts by News Desk (see all)
- FBR asked to enhance efforts for Broadening Tax Net - May 27, 2023
- National Savings Rate for June-2023 - May 27, 2023
- Islamabad to get a new “Luxury Resort” - May 27, 2023