The first phase of the Gwadar special economic zone under the China-Pakistan Economic Corridor has reached completion, 43 companies are going to invest in the port city. Moreover 200 companies have already been registered for the purpose of investment.
This was revealed by Zhang Baozhong, the chairman of China Overseas Ports Holding Company, the company which currently operates Gwadar Port. At Gwadar SEZ in addition to infrastructure and energy projects, various industries, including textiles, chemicals, automobiles and mobiles, would be set up, which will potentially create substantial employment opportunities.
The special economic zones being developed all across Pakistan have received enthusiastic response from investors all over the world and are being developed at a very fast pace.
“The Gwadar Port is fully operational and cargo ships have started arriving,” he said while talking to the Express Tribune announcing that a liquefied natural gas terminal will also be established at the port. “CPEC is a great economic project,” he said. “It is a symbol of the cohesive relationship between”
To ensure provision of clean water to the residents and investors work is also in progress on a large scale desalination plant at Gwadar which will convert five million gallons of seawater into drinking water. The construction of 300 megawatts coal-fired power plant is also in progress.
The projected details of the Gwadar Smart City Master Plan estimate that the population of the city is expected to exceed two million people in the long-term with high-paid expatriate professionals accounting for up to 80 percent of the population.
The city is likely to attract high commercial activity since the government will provide a tax-free zone there. Pakistan’s largest international airport has also been inaugurated at Gwadar.