List of China-Pakistan Economic Corridor (CPEC) Projects in Gwadar
The port city of Gwadar is the Pakistan's third important deep seaport, and once the city is fully developed and functional, it will become an international trade hub. In this blog, we will learn about development projects being carried out in Gwadar.
New Gwadar International Airport
The New Gwadar International Airport is located in Gurandani area and is currently in construction stage. The new airport will be of international standard and is designed to be equipped with state of the art facilities. It will have the capacity to handle a number of larger aircrafts including Boeing (B-737) Airbus and ATRs and the airport will be used both for domestic and international flight operations.
Free Trade Zone
The groundbreaking ceremony of the Gwadar Free Trade Zone has already been taken place. The area allocated for the development of the Free Trade Zone is around 2,280 acres. Plan and development of the infrastructure and transportation facilities have already been completed. Let me clarify that a bill passed in National Assembly back in 2016 and policies have also been devised for the tax exemption of Free Zone. Few key benefits of investing in Free Zone include exemption of tax and exemption on customs duties for business and construction activities, and 100% ownership for foreign investors along with flexible visa regulations. New avenues are being opened and these all benefits are offered to entice foreign investors to bring investment in Pakistan.
Gwadar East-Bay Expressway
Another spectacular development project that is currently underway in Gwadar is East-Bay expressway. It will be the major transit road for Gwadar Port, which will help ease out the traffic flow. Upon completion, the expressway will connect the Gwadar Port and its Free Zone with a number of highways across the country. The expressway is designed to be a 6 lane broad road, which will further connect with a 30 metres wide railway corridor running across the 2300 acres of Free Trade Zone of Gwadar, and linking with the Makran Coastal Highway.