BEIJING: As many as 14 Chinese investors will visit Gwadar and Balochistan next week to explore investment opportunities, according to Zhang Baozhong, Chairman of China Overseas Ports Holding Company (COPHC).
“We welcomed more than 17 ambassadors from the United States, Canada, and European Union nations last year,” he said during a briefing.
“Once the plan is fulfilled, job possibilities may be supplied to the people in addition to the induction of business activities,” he added, adding that Chinese investors have shown strong intent to spend $5 million in Gwadar to build an oil refinery. Other industries, such as lubricants and agriculture, are also being considered, according to him.
According to China Economic Net (CEN), during Zhang’s visit to China, he addressed meat export from Pakistan to the Chinese market, which the government is prepared to explore.
“We invested $15 million to acquire five new cranes to replace old ones to repair infrastructure at the port,” he said of the port’s expansion.
The offloading of an LPG vessel today and the arrival of a container vessel in a day are examples of increased port activities. These indicators point to positive news in the future. However, there is still work to be done.”
In response to a question, he stated that they have invested more than $300 million in the Gwadar Port and Free Zone thus far, and those important megaprojects such as the New International Airport, East Bay Expressway, Pakistan China Vocational Training Institute, China-Pakistan Friendship Hospital, and 1.2-MGD plant are among the grants from the Chinese people for the local brothers of Gwadar.
He stated that the government intends to start the 300MW power plant project. However, it has yet to happen. “I’m hoping the power failure gets resolved soon.”