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Gwadar port's first phase to be built through public sector

RECORDER REPORT

ISLAMABAD: The government has decided to construct Gwadar Deepsea Port (Phase-I) project through public sector at an estimated cost of Rs 10 billion, official sources told Business Recorder here on Friday.

The amount will be provided for the project from the next budget 2000-2001 and it will be completed within a period of two years.

They said that the second phase of the project will be built through private sector participation on BOT basis or BOO at an estimated cost of Rs 16 billion.

The decision will be taken in this regard after completion of Phase -I, he added.

The Central Development Working Party (CDWP) and Executive Committee of National Economic Council (Ecnec) have approved the feasibility and PC-I of the project and the ministry of communication is waiting for funds from the finance division, they said.

They said that breakwater, a container terminal, oil terminal and dry bulk will be constructed in the first phase of the project, while one container and general cargo terminals in the second phase.

To a question about the flexy port proposal, they said that it was turned down a couple of years back.

The Gwadar Fish Harbour was completed in 1993 and is working, they added.