Agreement signed to hand over Gwadar Port to Chinese company

ISLAMABAD: An agreement has been signed in Islamabad to hand over Gwadar Port to a Chinese company.

Under the agreement the Chinese company will fully assume the responsibility of Gwadar Port. The port will remain property of Pakistan and the Chinese company will share the profit.

Chairman Gwadar Port Authority Dr. Syed Pervez Abbas‚ Major General Asghar Nawaz of National Logistics Cell‚ Chairman AKD Security Aqeel Karim Dhedi and Leo Fong of China Overseas Port Holdings Limited and Singapore Authority representative Faisal Javed signed on the agreement on behalf of their respective organizations.