KARACHI: Pakistan has all set to sign a 40-year lease with a Chinese company to develop a massive special economic zone in the deep sea port of Gwadar.
Officials said on Wednesday that the scheme was a part of the China-Pakistan Economic Corridor (CPEC), an $46 billion investment plan linking western China to the Arabian Sea with infrastructure, energy and transport projects.
The contract assigning the 2300 acre swathe of tax-exempt land to China Overseas Port Holding Company (COPHC) is likely to be signed this month or October, Dostain Khan Jamaldini, chief of the Gwadar Port Authority (GPA) said.
