China to Build Automobile City in Gwadar

China to Build Automobile City in Gwadar 1

Chinese investors are contemplating to build a chemical and automobile city in Gwadar under the umbrella of the China-Pakistan Economic Corridor (CPEC).

According to a private news channel, sources linked to CPEC project stated that the Chinese authorities have already initiated paperwork on said projects, which reflects their seriousness.

Analysts have advised owners of local automobile industry to start joint ventures with Chinese as this would help in transfer of technology as well as boost the local industry. Earlier, China announced to set up a steel factory under CPEC apart from various other projects.

Related: China Threatens To Cut American Car Sales If President Trump Imposes Tariffs

China is developing the Gwadar port as a strategic and commercial hub under its ‘One-Belt One-Road’ initiative that promises shared regional prosperity. CPEC is one of many arteries of the ‘One-Belt One-Road’

In 2013, Pakistan handed over the Gwadar port to the Chinese company by annulling a deal with a Singapore company that could not develop the port after taking over in 2007.  The ECC further approved amendments in the Gwadar Port Concession Agreement for operating and developing the Gwadar port and free zone.

full story: The Express Tribune

 

Share this

About UsmanAnsari

A 3d animation professional with over 19 years of industry experience, an avid car enthusiast, petrolhead and social media influencer. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com

View all posts by UsmanAnsari

Leave a Reply

Your email address will not be published. Required fields are marked *