News Column

China : CHINA plans to construct new Gwadar International Airport

June 16, 2014



China is planning to construct new Gwadar International Airport.

China took over the financing and development of Gwadar International Airport. The Civil Aviation Authority would not be included in the process. Moreover, the controversy over change in the route of the $35 million Pak-China Economic Corridor expanded as government representatives continued to contradict each other over the reasons for the change.

Planning and Development Secretary Hassan Nawaz Tarar commented a Senate committee that a special board had been developed to inspect the building of Gwadar airport.

Pakistan People s Party s Senator Fateh Mohammed Hassani asserted that land for the airport valued Rs100 million had been acquired at Rs1.5 billion. The government has already delivered the establishment and operations side of the Gwadar Deep Sea Port to China, following the withdrawals of the rights originally allocated to Singapore.

At the same time, finance minister Ishaq Dar commented that the World Bank has granted $700 million financing for the Dasu hydro electric power project and in a amiable surprise for Pakistanthe United States also voted in favour.

He stated that Pakistan will deliver funding for Bhasha dam project from its own resources as of unavailability of international financing due to objections increased by New Delhi claiming Gilgit-Baltistan as part of Indian-administered Kashmir.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: TendersInfo (India)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters