Pakistan port leased to Chinese firm for 40 years

Pakistan has handed over operations of the Gwadar port to a Chinese company for 40 years, Minister for Ports and Shipping Mir Hasil Khan Bizenjo said on Thursday.

The minister said China Overseas Port Holding Company would carry out all the development work connected to the port, Radio Pakistan reported.

Gwadar port is located in Balochistan province.

It features in the China-Pakistan Economic Corridor (CPEC) plan, and is considered to be a link between the Chinese One Belt, One Road initiative and the Maritime Silk Road project.

The port became officially operational from November 14, 2016.

--IANS

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