Pakistan hands Gwadar port management to China

ISLAMABAD Mon Feb 18, 2013 10:16pm IST

1 of 2. A general view of Pakistan's Gwadar deep-sea port on the Arabian Sea March 19, 2007.

Credit: Reuters/Qadir Baloch/Files

Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

ISLAMABAD (Reuters) - China took over management on Monday of Pakistan's Gwadar port, en route to key Hormuz Straits oil shipping lanes, in a move which has prompted nerves in India about its fellow Asian giant's growing strategic clout.

China financed more than 80 percent of the $248 million development cost of the port on the Arabian Sea, as part of a plan to open up an energy and trade corridor from the Gulf, across Pakistan to western China.

When complete, the port could be used by the Chinese Navy, analysts say, and Indian Defence Minister A.K. Antony told reporters on February 6 that Chinese control of the port was "a matter of concern."

Indian policy-makers are wary of a string of strategically located ports being built by Chinese companies in its neighbourhood, as India beefs up its military clout to compete.

China has also funded ports in Hambantota, Sri Lanka, and Chittagong in Bangladesh, both India's neighbors.

After a signing ceremony on Monday, Pakistani President Asif Ali Zardari said he hoped Gwadar would soon be a "hub of trade and commerce in the region".

In January, Pakistan's cabinet approved the transfer of Gwadar port from Singapore's PSA International to Chinese Overseas Port Holdings Limited.

(Editing by Jason Webb)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Election 2014

Election 2014

Kashmiris wary as Modi challenges for power.  Full Article 

Facebook's Performance

Facebook's Performance

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article 

Earnings Season

Earnings Season

Bharti Infratel Q4 net profit jumps 64 percent.  Full Article 

Monsoon Forecast

Monsoon Forecast

South Asia monsoon seen below-average to average in 2014 - WMO.  Full Article 

Solar Dispute

Solar Dispute

Green groups urge U.S. to drop solar trade case against India.  Full Article 

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

Rice Exports

Rice Exports

India may cede top rice exporter spot under Southeast Asian price onslaught.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage