DP World Also Buying Major Port in Pakistan

Now isn't it interesting that the mainstream media didn't mention this little detail to the public - nor did anyone in the Bush administration. Maybe that's because of the obvious implications - as recently as yesterday, news reports localized Al Qaeda "headquarters" to the Pakistan-Afghanistan border.

DP World Also Buying Pakistan Port Known as the "Gateway to Central Asia"

Hmmm...... I guess DP World wants to make it as convenient for the Bin Laden gang as possible! Six ports in the US and one in Pakistan!

DUBAI — DP World is bidding for the Chinese-built port of Gwadar in Pakistan, to be launched by the Gwadar Port Implementation Authority.

“We are keen to secure an operating concession in Gwadar seaport,” Jamal Majid bin Thaniah, vice-chairman, DP World, was quoted by Lloyds List as saying.

Gwadar is poised to become the commercial hub as a gateway and link to the Central Asian republics and other neighbouring countries, with the launch of the new deepwater port. It has long been designated to run as a free port along the lines of Jebel Ali Port.

Being developed at a cost of $4 billion, the Gwadar Port will be the first deep-sea and tax-free port in Pakistan. It is strategically located on the main trade routes and will provide cost efficient and time saving transshipment to and from the Central Asian States, Iran and the Middle East.

The Gwadar project has entered its second phase of development and with an international port operator in charge it could challenge Karachi and Port Qasim as a regional hub and attract more foreign investment, industry experts say.

Its strategic location on the southern extension of Pakistan into the Arabian Sea allows it to be the ideal egress gateway for transit traffic into the land-locked Central Asian republics, Afghanistan and Iran, they say.

A high-ranking Pakistani diplomat said: “Gwadar is the vision of our government today. It is going to be a commercial hub of Pakistan and is expected to attract a lot of foreign investments into the country. Foreign investments are mainly spearheaded by expats, and according to some estimates, people in this region are expected to invest around $3 trillion in the real estate projects. "

"The government of Pakistan is also going to launch a gas pipeline, which will run from Iran into this area (Gwadar) and all the way to Karachi and hopefully, given our current good relations with India, it might be extended subsequently to India. All this will boost business in Gwadar.”

Pakistan invited international bids earlier this year to operate its new deepwater multipurpose port at Gwadar. “We want to outsource the operation of Gwadar port rather than have the government running it,” Prime Minister Shaukat Aziz said.

The government hopes that international port operators, especially those with existing operations in Middle East facilities, will be attracted by Gwadar’s potential to increase Pakistan’s trade with Central Asian countries.

http://www.khaleejtimes.com/displayArticle.asp?col=§ion=business&xfile=data/business/2006/January/business_January32.xml