Aqeel Kareem Dhedhi, one of three major shareholders of Gwadar port, 
has revealed that China Harbour Engineering Company Limited will take the control of major deep sea port of Pakistan and transfer deal will be inked on February 7 for $35 million. The other shareholders include the Port of Singapore Authority (60 percent) and the National Logistics Cell (20 percent).
Aqeel Karim Dhedhi said: “There are some technicalities regarding the agreement that need to be thrashed out but the process should be complete by next week."
The federal cabinet approved the transfer of Gwadar Port from PSA to China on Thursday. “There has been no objection from any side regarding the transfer,” maintains Dhedhi. According to shipping industry sources, the China Harbour Engineering Company Limited is to handle the Gwadar Port on behalf of the government of China. While the Chinese and the stakeholders are said to have been discussing this deal for the last two years, the final terms and conditions were settled at a recent meeting in Islamabad.
Meanwhile, Dhedhi says that the ability of the Chinese to work in tough conditions, their commitment to invest more in the port to make it operational and their plans to construct the Ratodero road bode well for the project.
has revealed that China Harbour Engineering Company Limited will take the control of major deep sea port of Pakistan and transfer deal will be inked on February 7 for $35 million. The other shareholders include the Port of Singapore Authority (60 percent) and the National Logistics Cell (20 percent).
Aqeel Karim Dhedhi said: “There are some technicalities regarding the agreement that need to be thrashed out but the process should be complete by next week."
The federal cabinet approved the transfer of Gwadar Port from PSA to China on Thursday. “There has been no objection from any side regarding the transfer,” maintains Dhedhi. According to shipping industry sources, the China Harbour Engineering Company Limited is to handle the Gwadar Port on behalf of the government of China. While the Chinese and the stakeholders are said to have been discussing this deal for the last two years, the final terms and conditions were settled at a recent meeting in Islamabad.
Meanwhile, Dhedhi says that the ability of the Chinese to work in tough conditions, their commitment to invest more in the port to make it operational and their plans to construct the Ratodero road bode well for the project.
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