Pakistan approves deal

Source:AFP Published: 2013-1-30 23:18:01

Pakistan on Wednesday approved a deal transferring from Singapore to China the management of the strategically located deep-sea Gwadar port on the Arabian Sea.

China provided about 75 percent of the initial $250 million in funding for the construction of the port in Pakistan's southwestern province of Baluchistan.

It is currently being operated by Singapore's PSA International, but needs further development work to become fully operational.

AFP



Posted in: Economy

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