Gwadar Port

Gwadar Port deep-sea port situated on the Arabian Sea at Gwadar in Balochistan province of Pakistan. The port features prominently in the China–Pakistan Economic Corridor plan, and is considered to be a link between the ambitious One Belt, One Road and Maritime Silk Road projects.Gwadar's potential to be a deep water sea port was first noted in 1954, while the city was still under Omani suzerainty. 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.In 2015, it was announced that the city and port would be further developed under CPEC at a cost of $1.62 billion, with the aim of linking northern Pakistan and western China to the deep water seaport. 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. 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. In late 2015, the port was officially leased to China for 43 years, until 2059.