The Chinese-run Gwadar port is scheduled to formally commence operations in May 2015. The first commercial ship will export fish to the Gulf countries sometime during this month, and shortly afterwards a new ship lane will be in operation. This information was shared by Gwadar Port Managing Director Dostain Khan Jamaldini with local newspapers on Sunday, April 12, 2015.
Mr Jamaldini told reporters he was quite hopeful Gwadar Port would become fully operational this year. Earlier in 2015, the Gwadar Port Authority acquired land from Pakistan Navy and Pakistan Coast Guard for the purpose of establishing free trade zones. The Economic Coordination Committee (ECC) of Pakistan has already approved a 23-year tax-free tenure for Gwadar Port, which has so far attracted many investors to become part of this future economic hub of Pakistan.
According to Mr Jamaldini, the infrastructural development of Gwadar Port is in its final stages and construction work at the site of the free-trade zones is in full swing. He also said that a great number of international and national companies were busy setting up their business centres in the trade zone. The companies whose expo and exhibition centres had been established in the free-trade zones would be bound to use the port to export and import their products, he added.
This is not all from Gwadar, however. Chinese President Mr Xi Jinping is also visiting Pakistan this month to discuss matters related to Gwadar Port with Pakistani officials and he is also going to sign more agreements to make Gwadar Port an even better investment for his country. A plan regarding the operations of Gwadar Port has already been shared by the Chinese authority with the local administration.
Moreover, the Gwadar Port Authority has signed a Memorandum of Understanding with Chinese city Zhuhai’s mayor and an agreement to commercially use each other’s ports for the next 10 years will be signed soon. In addition to that, the Zhuhai port authorities will also offer training to the port staff in Gwadar.
Mr Jamaldini also said that once the M8 was completes, the shipping containers from Gwadar would not be transported to Karachi – instead they would be routed to the north via Uttal, Khuzdar and Sukkar and save a travelling distance of at least 400 km.
The future of all real estate investment in Gwadar is dependent on Gwadar Port. With the port getting ready to become functional in May 2015, we anticipate a rise in property sale/purchase activity in Gwadar’s real estate market. If you, too, find the time right to buy or sell land in Gwadar, you must check out this page.
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