ISLAMABAD – Aound 30 companies have so far invested in the Gwadar FreeZone, with direct investment of about US $ 474 million, according toofficial sources on Sunday.
The Gwadar Free Zone, being developed by a Chinese company, is located inthe northern part of Gwadar, about 7km away from the port.
The planned development period is from 2015 to 2030 and is divided intofour phases. The pilot phase of the free zone has already been completed.The 923-hectare Free Zone includes an initial area (25 hectares) and thenorthern area (898 hectares).
The initial area is located in the west of the existing port. Its mainpurpose is to play a pilot role in setting up industries and to increasecargo capacity for the port.
The construction of the initial area includes a few projects:infrastructure, business center, trade exhibition hall, cold storage andwarehouse. By January of 2018, all those constructions have been completed.
The Gwadar Free Zone was inaugurated and the first International Expo washeld in January 2018. With the construction of the free zone, the city ofGwadar will become a commercial hub of the region in the near future.
The initial work including design and the feasibility study forconstruction of a new international airport has already been finalized.
The completion of the new airport will place Gwadar, an important componentof China-Pakistan Economic Corridor (CPEC) framework, on the globalaviation map.
It will be an airport of international standards capable of handling thelargest of passenger planes, including the A380 Boeing Jet and is aimed atfacilitating the movement of international investors and visitors.
The Civil Aviation of Authority (CAA) has earmarked 3000 acres of land 26kmnortheast of the existing airport. The new airport will be giveninternational status and operate under the open skies policy.
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In the meantime, there are plans at the existing airport to furtherfacilitate the movement of wide-bodied aircraft.
Efforts are also on to start work on technical and vocational institutethis year to meet the demand of the skilled workers for the port and thefree zone.
The land has been acquired for the purpose, while the design andfeasibility study have also been completed.
The construction of China-Pakistan friendship hospital will star in thenext few months to ensure medical facilities to the local population.
A project for provision of 200,000-gallon water to the residents of Gwadarhas been started.
The Gwadar port was handed over to the Chinese Overseas Port HoldingCompany in February 15, to make it operational.
Vessels and ships have started arriving and they are bringing cargo andequipment for the work on port and it will become fully operational inthree to four years.
