Gwadar goes to China
The port will remain property of Pakistan and the Chinese company will share the profit.
ISLAMABAD (Dunya News) - Pakistan Monday inked agreement to hand over Gwadar Port to Chinese company.
Under the agreement the Chinese company will assume the responsibility of Gwadar Port from immediately. The port will remain property of Pakistan and the Chinese company will share the profit.
Chairman Gwadar Port Authority Dr Syed Pervez Abbas‚ Major General Asghar Nawaz of National Logistics Cell‚ Chairman AKD Security Aqeel Karim Dhedi and Leo Fong of China Overseas Port Holdings Limited and Singapore Authority representative Faisal Javed signed on the agreement on behalf of their respective organizations.
According to the agreement China besides establishing a Free Economic Zone will construct a road from Gwadar to Ratho Dhero.
China will use the port for trade with Middle East.
