Pakistan set to initiate Gwadar shipyard project

ISLAMABAD: Pakistan has finalised the details for the construction of a new shipyard in Gwadar, the country's deep sea-port in the province of Balochistan.

The project aims to incentivise the commercial shipbuilding and repair industry, generate employment and spur economic growth.

The country federal and provincial governments have announced a joint collaboration by signing a formal Memorandum of Understanding (MOU) for the establishment of the Gwadar shipyard, with the project expected to take at least two to three years after the completion of a feasibility study, according to officials.

According to Zobaida Jalal, the country's Federal Minister for Defense Production, the project is strategically located in Gwadar, which is "of great regional importance" and also essential for the socio-economic development of Balochistan and the country as a whole, as it will “create employment for the locals” and boost revenue generation.

Jalal also added that the Gwadar shipyard will be offering shipbuilding and repairing, as well as training facilities benefiting the whole region.

Balochistan Chief Minister Jam Kamal Khan described the Gwadar Shipyard - a joint venture of federal and Balochistan government - as “a historic project” that would “usher the province in a new era of prosperity and economic development” with the creation of new jobs for the youth.