Industry

Pakistan plans to setup new shipyard at Gwadar

Karachi, February 18, 2019: In the backdrop of China Pakistan Economic Corridor (CPEC) Pakistan has decided to setup another shipyard at Gwadar.

The proposal of a new shipyard at Gwadar will support the country’s steel industry as it will need massive steel.

Sources said that in view of increased movement of ships and maritime activities at Gwadar Port in the backdrop of CPEC, Karachi Shipyard & Engineering Works (KSEW) had acquired land at Gwadar for the development of another shipyard at Gwadar which has been approved by the Prime Minister of Pakistan Imran Khan.

Rear Admiral Ather Saleem, Managing Director KSEW has informed that, the new shipyard will be build with support of Ministry of Defence Production in coordination with Government of Balochistan, he added.

The shipyard land has been earmarked near GWADAR port area at Surnallah, which will be developed under Joint Venture- JV with reputed international shipyard / consortium. Project office in this regard is being established.

He further said that there are more than 23 sizeable shipyards in India and 5 in Bangladesh against only one shipyard in Pakistan established since independence.

MD KSEW has also underscored the need for public private partnership in the maritime sector as it offers a huge potential of the investment and earnings, including foreign exchange, in many fields such as transportation of goods through shipping, both  inland and foreign countries.

He also lamented the Karachi Port Trust and Bin Qasim Port for not patronizing the indigenous domestic shipping industry and buying the ships, for their requirements, from foreign countries.

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