A signing ceremony transferring control of Gwadar port to a Chinese company took place Monday in Islamabad, according to the Associated Press.
China paid the bulk of the $250 million construction costs of the seaport, which has been operating under the control of a company in Singapore, AP reports. It’s been a failed economic venture for more than five years, mostly because Pakistan didn’t finish promised roadway construction plans that would have linked the port to the rest of the country, AP reports.
China plans to use the port to bolster its energy sector and anchor pipelines there for oil and gas imports from the Persian Gulf, AP reports.
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Cheryl Chumley is a continuous news writer for The Washington Times. Previously, she was part of the start-up team for The Washington Times’ digital aggregation product, Times247. She’s also a 2008-2009 Robert Novak journalism fellow with The Phillips Foundation. She can be reached at firstname.lastname@example.org.
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