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Pakistan's strategic Gwadar Port gets green light

Christian Fernsby ▼ | March 3, 2020
Pakistan's strategic Gwadar Port, part of the ambitious $61 billion China Pakistan Economic Corridor (CPEC) project, has finally been given the green light for development.
Pakistan Gwadar
Business in Pakistan   Pakistan Gwadar
Under plans by the Gwadar Development Authority (GDA), the population of the city of Gwadar is expected to increase to two million people by 2050, up from the current 85,000.

Topics: Pakistan Gwadar port

The Gwadar Smart Port City, which will cover approximately 1,200 square kilometers, will have seven ecological corridors, 11 urban functional zones and a special economic district to attract foreign capital.

While meeting with a group of developers, the GDA’s Director General Shahzeb Khan Kakar said that Gwadar is the future "Singapore of Pakistan."

The per capita income of Gwadar residents is projected to reach $15,000 (an increase of nearly 10 times the current national average) and its economy expected to surpass $30 billion by 2050.

According to the News newspaper, Gwadar Smart Port City will become Pakistan's third-largest city and create 1.2 million jobs.

Currently, Gwadar relies on supply of electricity from Iran, while a 300-megawatt coal-fired power plant planned under the CPEC project is two years away from being functional.


 

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