China, Pak sign agreement for Gwadar port additional dredging

BEIJING: A credit agreement for dollar 22.26 million for additional dredging of Gwadar Deep seaport project was signed here. Pakistan Ambassador Salman Bashir and Ms. Liang Xiang, Assistant President EXIM Bank of China inked the agreement. Extra dredging would enable 50,000 DWT vessels to utilize the Gwadar port. Ms. Liang also assured the Ambassador that they would continue to actively support other major economic projects in Pakistan. The Ambassador expressed gratitude of his Government for the valuable support of China to Pakistan's economic development. Meanwhile, sources said that the port will be functional after completion of additional dredging of the channel to 14.5 meters, making it the deepest port of Pakistan and trans-shipment port for the region.