China assumes charge of Gwadar Port

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China has formally assumed charge of Pakistan’s deep-water Gwadar Port following an agreement signed between the two countries in February this year. Three companies including China Port Holding, China Merchant and Cosco Shipping would be responsible for the handling of the port. Beijing would help Islamabad construct a road, which would link the port with the Coastal Highway. Besides this, China would also provide financial aid to complete the project.

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