Karachi: Almost 10 industrial unit in Gwadar’s free zone are expected to start operating by this year’s end, according to a news report. This statement has come from China Overseas Ports Holding Company (COPHC) Chairman Zhang Baozhong who presented details. Out of these 10 industrial units, 6 are from China, whereas four are local. Apart from this, the company is also planning on setting up projects related to edible and palm oil processing and automotive services industries.
Baozhong has also added by saying that USD 300 million has already been invested in the mega project, and that another USD 200 million would be spent on the second phase, for which the feasibility report has already been completed. The COPHC has also added that more than 30 firms related to banking, fish processing and hospitality have brought in about USD 500 million worth of direct investments in the zone.
The first phase of Gwadar Port’s free zone was inaugurated by the previous Prime Minister Shahid Khaqan Abbasi during January this year.
