Gwadar's potential to be a deep water sea port was first noted in 1954, while the city was still under Omani suzerainty.[2] Plans for construction of the port were not realised until 2007, when the port was inaugurated by Parvez Musharraf after four years of construction, at a cost of $248 million.[3]
In 2015, it was announced that the city and port would be further developed under CPEC at a cost of $1.62 billion,[4] with the aim of linking northern Pakistan and western China to the deep water seaport.[5] The port will also be the site of a floating liquefied natural gas facility that will be built as part of the larger $2.5 billion Gwadar-Nawabshah segment of the Iran–Pakistan gas pipeline project.[6] Construction began in June 2016 on the Gwadar Special Economic Zone, which is being built on 2,292 acre site adjacent to Gwadar's port.[7] In late 2015, the port was officially leased to China for 43 years, until 2059.[8]
Gwadar port became fully operational on 14 November 2016 and was inaugurated by Pakistan's Prime Minister Muhammad Nawaz Sharif & Pakistan's Chief of Army Staff Gen Raheel Sharif.[9]
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