Chinese Investors Set Sights on Gwadar: A Thriving Hub of Opportunity
A delegation of 14 Chinese investors is poised to visit Gwadar in the upcoming week to explore investment opportunities in Gwadar and Balochistan, as disclosed by Chairman Zhang Baozhong of the China Overseas Ports Holding Company (COPHC).
Zhang highlighted the international interest in the region, mentioning that in the previous year alone, Gwadar hosted visits from 17 ambassadors representing the United States, Canada, and various European Union nations.
P.c. Faisal Hanif
The chairman revealed the enthusiastic commitment of Chinese investors to invest $5 million for the establishment of an oil refinery in Gwadar. This initiative, once realized, not only promises job opportunities for the local populace but also a boost in overall economic activity. Additionally, ventures in sectors such as lubricants and agriculture are currently under consideration.
Zhang also shared discussions regarding the export of meat from Pakistan to the Chinese market during his visit to China, indicating a positive willingness from the Chinese government to explore this opportunity, as reported by China Economic Net (CEN).
Speaking about port development, Zhang noted that COPHC has allocated $15 million to acquire five new cranes to enhance port infrastructure by replacing outdated equipment. Recent arrivals of an LPG vessel and an imminent container vessel signify an upsurge in port activities, signaling auspicious times ahead. However, he emphasized the need for further progress.
When questioned about the investment landscape, Zhang mentioned that COPHC has already invested more than $300 million in the Gwadar Port and Free Zone. He outlined significant projects, including the New International Airport, East Bay Expressway, Pakistan China Vocational Training Institute, China-Pakistan Friendship Hospital, and a 1.2-MGD plant, all of which are substantial contributions from China to benefit the local community in Gwadar.
Highlighting the crucial role of electricity provision in development, Zhang expressed concerns about the high cost of electricity generation through generators at COPHC. He mentioned the government's plans for a 300MW power plant project, which is pending realization, and expressed hope for a prompt resolution to the power supply issue.
Reflecting on his seven-year tenure in Gwadar, Chairman Zhang commended the close collaboration with the local community and the dedicated efforts of security forces, which have made him feel at ease in the region. He recalled the transformation of Gwadar from a place lacking proper housing and limited business activities to a thriving hub with a growing reputation and bustling commerce.