Chinese firm Xinning Enterprise has signed a Letter of Intent (LoI) with the Gwadar Port Authority (GPA) to drive major industrial and commercial investments at Gwadar Port and its Free Zone, Pakistan’s Ministry of Maritime Affairs announced on Tuesday.
Located along the Arabian Sea, Gwadar is a centerpiece of the multibillion-dollar China-Pakistan Economic Corridor (CPEC), a flagship project under China’s Belt and Road Initiative. Pakistani officials have long emphasized Gwadar’s potential as a regional transshipment hub, given its strategic position offering the shortest trade route to the Gulf and Central Asia.
According to the ministry’s statement, the agreement outlines plans to:
- Develop Gwadar Port into a key regional transshipment center
- Launch new industrial ventures
- Optimize infrastructure within the Free Zone
- Relocate industries to maximize productivity and investment
Maritime Affairs Minister Qaiser Ahmed Sheikh welcomed the agreement, calling it a “significant milestone” for Gwadar’s strategic development. He praised Xinning Enterprise’s potential to increase port throughput, attract foreign investment, and contribute to regional economic growth.
The minister reiterated the government’s vision to transform Gwadar into a global maritime gateway and industrial hub, stressing that partnerships with trusted international companies are essential to advancing Pakistan’s maritime and economic goals.
The move aligns with Prime Minister Shehbaz Sharif’s broader push to strengthen economic ties with regional allies, including Gulf states and Central Asian republics, especially after Pakistan faced a near-default on its debt in 2023.
