Pakistan approves deep-sea Gwadar port transfer to China
Published on Jan 30, 2013 9:40 PM
ISLAMABAD (AFP) - Pakistan on Wednesday approved a deal transferring from Singapore to China the management of the strategically located deep-sea Gwadar port on the Arabian Sea.
China provided about 75 per cent of the initial $309 million in funding for the construction of the port in Pakistan's southwestern province of Baluchistan.
It is currently being operated by Singapore's PSA International, but needs further development work to become fully operational.
"The cabinet today gave approval to transfer Gwadar port operations from Port of Singapore to Chinese Overseas Port Holdings Limited," Information Minister Qamar Zaman Kaira told reporters.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here