The expansion and modernization of the deep-water port of Gwadar in Pakistan is almost completed. The port is key element from Chinese economic corridor project through Pakistan at total worth of 46 billion USD. The port terminal should start operating on full capacity until the end of the year and to reach cargo turnover of 1 million tons in 2017. The basis of port turnover will be building materials, which will be used for developing of the Chinese economic corridor to Pakistan. In the free economic zone of the port also will be constructed fish processing plant and other industrial facilities.
“The installation of cargo handling equipment at the terminal is almost complete, and the port will begin to operate at full capacity by the end of this year”, said the CEO of China Overseas Holding Ports Company Ltd, Zhang Baozhong. “After the expension the turnover of the port will exceed 1 million tons”, he noted. “Currently the The turnover of the port is insufficient, but the situation will change in the near future with the completion of the construction of roads that will link the port to the industrial areas of China”, added Zhang Baozhong.
Chinese economic corridor to Pakistan aims to connect the western provinces of China with export markets through Gwadar port, and the port will be in the future to handle 300-400 million tons of cargo per year.