CPEC

Which Company Has The Current Operational Control Of Gwadar Port?

By January 25, 2021January 26th, 2021No Comments

In 1954, a study conducted by American researchers highlighted the potential of Gwadar to become an important seaport. Back then, Gwadar was under the control of Oman. In 1958, Pakistan bought Gwadar port from Oman. After that, various attempts were made to turn Gwadar into a port city. Unfortunately, due to lack of funds and continuity in government policies, the initiative could not get materialized.

In 2002, the government of Pakistan made serious efforts to develop Gwadar port and handed over operational control of Gwadar port to the Port Authority of Singapore for construction. In 2007, the company completed the first stage of development and the port was inaugurated. However, Port Authority of Singapore could not catch up with deadlines in the second stage and, as a result, the operational control of Gwadar port was handed over to China Overseas Port Holding Company (COPHC) in 2013.

On May 16, 2013, COPHC took over the command of the recently developed Gwadar Port and Gwadar Free Zone. The objective of the company is to develop Gwadar port so it can efficiently function as a transit hub for regional trade. Under China Pakistan Economic Corridor, Hong Kong-based COPHC has been proactively working to develop Gwadar port with a wide range of projects. It has registered its regional office in Pakistan.

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