Pakistan's strategic Gwadar Port gets green lightChristian 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.
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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. ■