International

Gwadar port project gets under way

By B. Muralidhar Reddy

ISLAMABAD MARCH 23. The `all-weather' friendship between Pakistan and China entered a new era on Friday with the Pakistan President, Pervez Musharraf, performing the ground-breaking ceremony of the strategically-located Gwadar sea port, in the presence of the Chinese Vice-Premier, Wu Bong Guo.

The prestigious project would pave the way for the strengthening of Pakistan's trade and economic relations with the oil-rich Central Asian Republics (CARs). At one stage, the United States was also very keen on the project.

Observers here believe that the project would promote Pakistan's trade right up to the Central Asian States via Afghanistan and provide job opportunities to thousands of people. It is estimated to cost about Rs.10 billions in terms of Pakistani currency.

A team of Chinese technical experts had been assigned the task of designing the project after they completed the survey. The project would be completed in different phases.

The first phase starts with the construction (from March 22) and would be completed by 2005. This would include dredging and construction of three berths.

The second phase would comprise the construction of 18 berths, including oil, chemical and container terminals. Of the total $248 million package, Pakistan would fund $50 millions while the rest would be a Chinese grant and a commercial loan for phase-I of the Gwadar port.

On his arrival here, the Chinese Vice-Premier said China desired the rapid economic uplift of Pakistan and that all the possible assistance would be provided for construction of the port.

Mr. Wu said the port would promote trade activity in the whole region and prepare the ground for providing firm economic infrastructure to Pakistan.

He said the Pakistan-China friendship was deep-rooted and time-tested and, with the passage of time, this relationship would deepen further.

Like the Karakorum Highway, Mr. Wu said the Gwadar port project would also prove to be a lasting symbol of sincere friendship between the two neighbouring countries.

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