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Economic Corridor to Be Developed through Chinese Investment at Gwadar Port: Minister

Karachi, March 14, 2014 (PPI-OT): Belgium and Holland have shown interest to have business joint ventures at Gwadar Port The Federal Minister for Ports and Shipping while reflecting on the serious attitude of present government towards Gwadar Port developments has said that the present government is serious in their motives to see developments taking place at Gwadar Port area.

He said that through Chinese investment, an economic corridor will be established for the development of Gwadar Port and that MoU/agreements have been signed and an amount of $1.20 billion are to be spent on the development of Gwadar Port. The amount will become available in 2 to 3 years, he added. Senator Kamran Michael stated this while in a meeting at his Ministerial Secretariat in Islamabad.

Unveiling more details, the Minister Kamran Michael said that the approval of Prime Minister has already been taken under which the Gwadar Airport and road infrastructure will be up graded and brought at par with latest International facilities.

Similarly, development of hospital, school and vocational training institutes will be made at Gwadar, he added. More berths at Gwadar Port will also be established at which the international famed companies will bring in foreign investments, he added further. Senator Kamran informed that during his recent visits to Gwadar, the consulate generals of various countries have been taken to Gwadar for detailed lookout. Some of these have shown interest in Gwadar for business ventures.

The consulates of Belgium and Holland have specifically shown interest and acknowledgment to have business ventures at Gwadar Port, added the Minister for Ports and Shipping. Keeping continuity to the momentum, Senator Kamran Michael will hold signing of mutual agreements with Belgium and Holland at government level which paves way for a bright future of Gwadar Port through opening of new avenues and foreign investment. Even in his sole foreign visit to UK to participate in the General Assembly Session of IMO, the Ministry of Foreign Affairs praised his efforts for lifting the image of Pakistan Mission amongst the IMO member countries.

The Minister pointed out that some quarters are always on the go with their evil plans as they do not wish to see developments taking place in Gwadar and that these creates hurdles on regular basis but they have no success at all. He said that his government will stand against them like a strong wall to fulfil the vision of Prime Minister Mian Muhammad Nawaz Sharif towards development of Gwadar and Gwadar Port.

For more information, contact:
Shafique A. Faridi
Media Cell,
Minister for ports and shipping
(Camp office Karachi)
Contact # 99214358
Fax: 99214377

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