China to set up $4.5 bln Melting Plant in Gwadar

February 9, 20220

Pakistan and China highlighted the significance of Gwadar as a central pillar of CPEC and an important node in regional connectivity and agreed to jointly accelerate the construction and operation of Gwadar Port and build its low-carbon circular industry zone. It appears that China will set up a melting plant in Gwadar, Balochistan. The investment will value at $4.5 billion. China and Pakistan signed the agreement for investment during PM Khan’s recent trip to China.

The two sides highlighted the significance of Gwadar as a central pillar of CPEC and an important node in regional connectivity. The two sides agreed to jointly accelerate the construction and operation of Gwadar Port and build its low-carbon circular industry zone. They agreed to build high-quality livelihood projects for the socio-economic development of Gwadar city and its residents.

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Emerging challenges and opportunities for Gwadar and CPEC

Earlier, Information Minister Fawad Chaudhry, while talking to a private media channel on the success of PM’s visit, revealed that China will invest $4.5 billion in the melting project. Important to note, Balochistan is rich in minerals. Additionally, Fawad Chaudhry also stated that China will further invest around $2 billion in mining projects.

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