Explanation

Gwadar Port is operated by China Overseas Port Holding Company (COPHC) under an agreement with Pakistan. China Overseas Port Holding Company (COPHC) operates Gwadar Port, while the Gwadar Port Authority owns it. The Gwadar Port Authority is a government-owned entity. In 2013, Pakistan awarded a contract to COPHC to construct and operate the port. The contract states that the port will remain Pakistani property, but COPHC will operate it. COPHC will receive 91% of the port’s revenue, while the Gwadar Port Authority will receive 9%. What is the purpose of Gwadar Port? Gwadar Port is Pakistan’s first deep-sea port. It’s intended to be a gateway port for Pakistan and the region. It’s also intended to provide an outlet for land-locked Central Asian States, Western China, and Afghanistan. Other facts about Gwadar Port: Gwadar Port is central to the China-Pakistan Economic Corridor (CPEC) project. Gwadar Port is strategically important for Pakistan because it’s close to the Strait of Hormuz.