A credit agreement for 22.26 million dollars for additional dredging of Gwadar deep seaport project was signed here on Friday. The agreement was inked by Ambassador Salman Bashir and Ms Liang Xiang, Assistant President Exim Bank of China.
Extra dredging would enable 50,000 DWT vessels to utilise the Gwadar port. The development of Gwadar port is a shining example of Pakistan-China co-operation and it is expected to be ready for operation later this year.
Ms Liang also assured the ambassador that they would continue to actively support other major economic projects in Pakistan. The ambassador expressed gratitude of his government for the valuable support of China to Pakistan's economic development.
Meanwhile, sources told APP that the port will be functional after completion of additional dredging of the channel to 14.5 meters, making it the deepest port of Pakistan and transhipment port for the region.
The dredging of Gwadar port channel to 14.5 meters, which has been undertaken by a Chinese company, will make it a regional hub, as it will enable the port to receive the mother vessels. The cargo dropped by the mother vessels will be taken to Karachi and other regional ports by the feeder vessels or trucks.
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