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Chinese investors ready to build Industrial Park in Gwadar

July 19, 2014

Reposing their confidence on the improved security situation in Port City of Gwadar, the leading group of Chinese Investors have shown their interest to jointly work as Industrial Park, free zone operators and investors in Gwadar.

They expressed their readiness in establishment of fish processing units, assembly plants, marble processing, cement and steel making industries as well as, coal based, wind and solar plants for Gwadar Port, Gwadar Industrial / Free Zone the city itself.

" Rejecting the conspiracy theory regarding the functionalization of the Gwadar Port of Balochistan, Industrial Banking Department (IBD) and Industrial and Commerce Bank of Chine (ICBC) reposed their confidence in investing in Gwadar free zone," Chairman Gwadar Port Authority (GPA), Dostain Jamaldini said while talking to reporter.

Future of Pakistan is rich as keen interest of the foreign entrepreneurs were creating investment environment in Balochistan.

He noted that a delegation led by Liu Jin M, General Manager of Investment Banking Department, ICBC Head Office comprising 15 officials from Industrial and Commercial Bank of China (ICBC), Holly Group and Habib Bank Limited Pakistan lately visited Gwadar.

The visit was in line with a series of policy initiatives under China Pakistan economic corridor (CPEC) and bilateral and multilateral understandings between different Chinese and Pakistani public-sector, as well as private sector companies and organizations.

The objectives of the ICBC-HBL-Holly group delegation visit to Gwadar mainly aimed at have an on-site investigation for top priority Industrial Park at Gwadar.

"It would bring 10 billion US$Foreign Direct Investment (FDI) annually in Balochistan, once the first phase of 9.2 skm Gwadar Free Zone in made functional, Chairman GPA said while referring the estimates of the investors.

The confidence of the Chinese investors in evident that the economy of Pakistan is vibrant and effective as they are keen to jointly work as industrial park / Free zone operators, developers and investors.

Terming Gwadar future of the country, Jamaldini noted that Chine Pakistan Economic Corridor would benefit Naseerabad, Mekran and Kalat region in Balochistan while North, West Sindh, South Punjab , Khaiber Pakhutunkhwa and Gildit Baltistan would also get huge benefits from the CPEC.

It may be mentioned that other such two proposed industrial parks are at Lahore and Faisalabad. Additionally, the team met the local businessmen of Gwadar Chamber of Commerce and industry and some investors, who had come from Karachi, Lahore and other parts of Pakistan.

The delegation visited Gwadar International terminal, Gwadar Port Free Zone, GPA Civic Center, Gwadar Development Authority office and were briefed on Gwadar City offerings to investors. The delegation also visited Gwadar Industrial Estate Authority industrial park and had series of meetings with Chairman GPA, GDA officials, Commissioner Mekran, GIEDA officials.

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Source: Balochistan Times (Pakistan)

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