CPEC , Gwadar , Pakistan Development , Future Plans , Program, 2, Nadeem Rawal, Life TV Online

Under the CPac agreement, the Gwadar port was initially upgraded to allow larger vessels to arrive. Improvement projects include the construction of a 130 130 million breakwater liquefied natural gas facility around the port. It will have a capacity of 500 million cubic feet of liquefied natural gas per day and will be connected to the Gwadar Nawabshah segment of the IranPakistan gas pipeline. The expanded port is located near the 2282acre free trade zone in Gwadar, designed in the style of China s special economic zones. In November 2015, the 43year lease was handed over to China Overseas Port Holding Company. The site includes a manufacturing zone, logistics hub, warehouse and display center. Businesses located in the zone will be exempt from many provincial and federal taxes, including customs. Businesses located in the special economic zone will be exempt from federal excise taxes for 23 years. Contractors and subcontractors affiliated to China Overseas Port Holding Company will be e