LONDON: A leading Chinese investment company announced to invest $500 million in Gwadar in the first phase of a project aimed at building homes for around 500,000 incoming Chinese professionals expected in Gwadar by 2023.
China Pak Investment Corporation (CPIC) announced at a press conference that the partnership with Top International Engineering Corporation (TIEC), a Chinese state-owned company with over $100 Billion worth of projects delivered since 1950 to develop China Pak Hills.
The ceremony was attended by China Pak Investment Corporation officials Jian Zheng, Chief Operations Officer, Dawei Li, Spokesperson; Stuart Reid, Chief Operations Officer of ONE Investments, architect Vladimir Tchaly; legal Consultant Moshiur Mian and Syed Zeeshaan Shah, the Chief Executive Office of ONE Investments and former Apprentice Star.
Jian Zheng of China Pak Investment Corporation spoke about the relationship with TIEC and the opportunity that the One Belt One Road investment by the Chinese government offers Pakistan and particularly the Port City of Gwadar .
He said that China Pak Hills is an unprecedented development project, adding “China's policy to unite emerging economies grappling similar aspirations towards development will someday soon, transform nations like Pakistan into developed economy status."
"This vision has driven the partnership of The China Pak Investment Corporation and Top International Engineering Corporation to develop China Pak Hills formerly known as International Port City with the Gwadar Development Authority,” he added.
Moreover, Tchaly spoke about the vision and creativity that the design team offer and how these will be translated into a contemporary development for a community of over 10,000 residents.
Stuart Reid, COO of One Investments Ltd, said of the landmark project: “China Pak Hills is a unique and exciting opportunity."
The level of investment and commitment made by the Chinese government in the CPEC guarantees that Gwadar is going to be one of the most important trading and access points in the world, he said.
He added, "[Gwadar's] geographic position, combined with the infrastructure being created through the CPEC means that it can only grow exponentially.”