Gwadar Port and its strategic importance
Gwadar Port is a warm-water, deep-sea port situated on the Arabian Sea at Gwadar in Baluchistan province of Pakistan. It is located at the mouth of the Persian Gulf just outside the strategically important Strait of Hormuz. It features as the southern Pakistan hub if the $57 billion China-Pakistan economic Corridor plans. It is considered as a vital link between the Chinese One Belt, One3 Road initiative and the Maritime Silk road Project. · Pakistan has leased the operations of its strategic Gwadar port to a State-run Chinese firm, the China Overseas Port Holding company (COPHC) for a period of 40 years. · COPHC is slated to carry out all the developmental work on the port situated in the Balochistan province of Pakistan. · COPHC took over the operations of the port in 2013. Previously, the control of the Gwadar port was with Singapore’s PSA (Port of Singapore Authority) international. · As per the contract, 91% share of revenue collection
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