In response to a question. he stated that “after a complete feasibility assessment that persisted for many months. Now the good news is that we will turn off the 8.5 MW Diesel Generator. and Gwadar Free Zone will link up Gwadar Port’s lone Grid Station with three other sources.”One of the potential sources is the Quetta national grid station. The second location is Hand-Ramadan.
Operator of Gwadar Port:
Which located on the border between Pakistan and Iran. The Nag-Besima portion is the third source, and it located on the border between Pakistan and Iran. He continued by saying. that the new regime would be favorable for investors in the Gwadar Free Zone (North). An official from COPHC stated. that as a matter of fact. the present electricity price. and Gwadar Port is off the charts. This is causing a severe financial blow to the operator of Gwadar Port. as well as businesses that located in Gwadar Free Zone (South).
Power for enterprises:
We used to buy gasoline at a cost of Rs. 1.5 million per month for the Gwadar Port and Rs. 3.5 million per month for . Charges of around Rs. 85 per unit levied against Chinese businesses located in the . The price of power for enterprises. and manufacturers in the Gwadar Free Zone (North) will be approximately Rs. 50 to Rs. 55 per Kilowatt after the availability of 5 MW under new arrangements in the first step.
In the second step, which will come later, prices. at a level that is fair will also made accessible for Gwadar Port and the Gwadar Free Zone (South). It indicates that business owners. and investors will be able to save approximately Rs. 30 per kilowatt as a result. According to an official from the COPHC. This will directly affect financial leverage. and production growth not only for existing firms but also for future investors.
China Harbor Engineering:
At the moment, there are approximately 51 businesses. that have registered in the Gwadar Free Zone (South). Approximately ten businesses, such as CBC, H.K. Sons. Agvon, Linyi Trade City. China Ecological Company, China Harbor Engineering Company. Hengmei, Jintai, and others, have successfully launched. their operations and are actively conducting business.
East Sea Group Limited:
In the meantime, in the Gwadar Free Zone (North). three separate businesses are nearing completion of the development works. required to launch their respective industries within the next two months. East Sea Group Limited was one of the many companies. that signed a contract to develop an oil refinery in the Gwadar Free Zone with an investment of $4.5 billion (North). They will gain a significant competitive advantage from having stability. and competitively priced electricity.
Primary development project:
In China’s Belt Road Initiative. the Gwadar Port, which is the primary development project being undertaken. as part of the China Pakistan Economic Corridor (CPEC) framework. is of the utmost significance. This port may found on the coast of the Arabian Sea, not far from the straits of Hormuz. which considered to be one of the most important transportation corridors for oil. In addition to the building of the deep-sea port, Pakistan. and China has collaborated on the development of a Gwadar Free Zone. in order to take advantage of the port’s full potential.
Essential component of realizing:
The formation of this free economic zone will not only lead to a rise in the amount of goods. that shipped out of the country. but it will also facilitate the forging of connections. with all of the important actors in the surrounding area. The Gwadar Free Zone encompasses a total land area of 2,281 acres and situated in close proximity to the port. Both by land and by air, it is easily accessible from any of the country’s major urban centres. This economic zone is also an essential component of realising.
The port’s full potential as a future centre of commerce in the area. and it plays an important role in that process.Gaana.com. Pakistan’s most innovative property web, has compiled. a detailed guide to the Gwadar Free Zone. in order to draw attention to the significance of this particular zone.
Gwadar Free Zone Timeline:
The beginning of construction on the first phase of the Gwadar Free Zone. which completed and opened for business in 2018. Construction work has begun on a plot of land. that is more than 60 acres in size, with the primary objectives being. the development of fish processing centres, cold storage facilities, warehouses, and business centre’s.
In phase 1 of the free zone’s investment program. The total of 47 businesses have approved for registration as potential investors. In addition, there are currently three of the six factories. that have built that are completely operating. In addition to these, there are a further six factories that are still in the process of being built.
The primary focus:
Phase 2 of the Gwadar Free Zone. The second phase of the project. which covers a total area was officially launched. one year ago by the country’s immediate past Prime Minister, Imran Khan. According to COPHC. there is a direct investment planned in the amount of $3 billion. that will result in the creation of around 30,000 employment. During this period, the manufacturing, trading. and service industries will be the primary focus. The development work for phase 2 is currently under progress. and its conclusion anticipated to take either one or two years.