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Old Tuesday, April 25, 2006
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Exclamation Transit trade Gwadar port to generate over $50 b

Detail: Islamabad—The Gwadar deep-sea port, to be completed by March 2005, will have the potential to generate over $ 50 billion in transit trade annually in future. Official sources said after becoming fully operational along with strong communication and transport links with Central Asian States, Iran, western provinces of China and commercial cities of the country, an estimated two-thirds population of Balochistan will become part of port-related activities. The mega project which includes construction of three berths in the first phase will generate job opportunities for thousands of people. Having the potential to handle ships over 50,000 tons weight, the port will have huge cargoes for transiting to the Gulf region through smaller ships. Reports emanating from the Gulf region suggest that authorities there are keenly interested in the project and for its early completion as their over-saturated warm water ports cannot absorb further pressures. The sources said situated on mouth of the Gulf, the warm water Gwadar port will wait for transit of huge discovered and undiscovered estimated 2500 billion barrels of oil in Central Asian Region to different destinations as the fuel-thirsty nations are looking towards this region to meet their future needs. The nearest port for such facilities is this under-construction port. This port will become a gate-way for the region. It also offers special opportunity for land-locked Afghanistan. The sources said foreign consultants have been engaged to overview the plan prepared by the Nespak for the port city. Modifications are expected in the original plan.
Source by Pakistan Observer

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