ISLAMABAD: Deputy General Manager of Gwadar Free Zone Company Hu Yaozong on Tuesday said 60 percent construction work of the first phase of Gwadar Free Zone has been completed.
“Chinese and Pakistani engineers are working round the clock to open the free zone for operation as early as possible,” he said in an interview with ‘China Daily’.
He said the free zone is a key step towards developing Gwadar Port into an important regional hub that will benefit not only south Asia, but also Central Asian and Middle East countries, Radio Pakistan reported.
Hu Yaozong said the second-phase construction of the free zone is featured with a huge stainless steel factory which would create a number of jobs for locals.
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He said besides Chinese and Pakistani investors, a lot of investors from other countries have also shown keen interest in business opportunities in the free zone.
The free zone is spread over 923 hectares of land and will be developed in four phases.
The zone has specially been designed to take advantage of Balochistan’s rich fishery and mineral resources by developing relevant industries for overseas market and light industry for domestic consumption.