In a major decision Pakistan, key ally of US, has handed over operations of country’s key and strategic Gwadar port on Arabian sea to China.
Islamabad, Jan 31/Nationalturk – In what may be not a good news for United States, Pakistan, its key ally, has handed over operations of country’s key and strategic Gwadar port on Arabian sea to its trusted friend and ally China.
“The cabinet gave approval to transfer of Gwadar port operations from Singapore’s Port of Singapore International to Chinese Overseas Port Holdings Limited,” Pakistan’s Information Minister Qamar Zaman Kaira told reporters.
Referring to Singapore’s company, he said Port of Singapore International could not develop or operate Gwadar as was desired.
He said the decision was taken to meet country’s soaring energy requirements. “Both the companies have settled their deal,” he said.
He, however, did not give any specific date by which the port will be handed over to China.
Gwadar port is strategically very important
Gwadar port lies in Pakistan’s restive Balochistan province and is strategically very important. China provided about 75% of initial $250 million in funding to Pakistan for construction of the port.
Kaira said Pakistan hopes that under the new management, the strategically located deep-sea port would soon contribute to country’s flagging economy. “The Chinese will make more investment to make the project operational,” he added.
Gwadar Port is located at the apex of the Arabian Sea and at the mouth of the Persian Gulf, approximately 460 km (290 mi) west of Karachi, 75 km (47 mi) east of Pakistan’s border with Iran and 380 km (240 mi) km northeast of the nearest point in Oman across the Arabian Sea. It is situated on the eastern bay of a natural hammerhead-shaped peninsula protruding into the Arabian Sea from the coastline.
Gwadar Port is situated near the strategic Strait of Hormuz and its busy trading and oil shipping lanes. The surrounding region is home to around two-thirds of the world’s oil reserves. It is also the nearest warm-water seaport to the landlocked, but energy rich, Central Asian Republics and landlocked Afghanistan.
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Faiz Ahmad / NationalTurk Pakistan News
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