The development of Gwadar port is one of the core projects of China Pakistan Economic Corridor (CPEC). The port city holds great commercial and strategic significance because it’s a warm water deep seaport at the mouth of the Persian Gulf and Strait of Hormuz. This region is known as the home of two-thirds of global oil supplies. Moreover, the port is closely located near International Sea Lines of Communication which gives it a key position as the hub of regional connectivity. Once developed, the port will provide an economical route to China to extend its outreach in the global market.
As part of CPEC, China and Pakistan consider the development of Gwadar port a top priority. At the outset of CPEC in 2015, $1.62 billion had been set aside for the development of the Gwadar city and port. Fast-track developments have been underway in Gwadar during the past five years. The design of these developments will make Gwadar rub shoulders with the famous advanced port cities of the world. Below are some of the development projects that will completely modernize the port city.
• Gwadar Eastbay Expressway ($168 million)
• Gwadar International Airport ($230 million)
• Construction of Breakwaters ($123 million)
• Dredging of berthing areas & channels ($27 million)
• Infrastructure for Free Zone ($32 million)
• Facilities of Fresh Water Treatment and Supply ($130 million)
• Hospital ($100 million)
• Technical and Vocational Institute ($10 million)
A fully functional Gwadar port carries huge prospects for Pakistan. First, it will boost Pakistan’s economy by becoming a transit hub for regional trade. The project also includes the development of Gwadar Freezone 1 & 2 which will also attract foreign investment and create thousands of jobs. Additionally, it will unlock the development potential of underdeveloped local areas in Balochistan. In essence, it will play a pivotal role in the socio-economic uplift of Balochistan.