Portal:Pakistan/Selected article/5

Gwadar is located on the southwestern coast of Pakistan, close to the Strait of Hormuz on the Persian Gulf. More than 13 million bbl/d of oil passes through the Strait. It is strategically located between three increasingly important regions: the oil-rich Middle East, heavily populated South Asia and the economically emerging and resource-laden Central Asia. The Gwadar Port is expected to generate billions of dollars in revenues and create at least two million jobs. In the year 2007, the government of Pakistan has handed port operations over to PSA Singapore for 25 years giving it the port the status of Tax Free Port for following 40 years. (More...)