Pakistan’s Prime Minister Imran Khan has broken ground on the construction of Gwadar International Airport in the country’s Balochistan province.
The proposed airport, which is being funded by China, will cover an area of 4,300 acres. It will be capable of accommodating narrow-body aircraft, as well as big aircraft such as the Airbus A380.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The airport is one of numerous projects in Gwadar being financed by the Chinese government as part of its Belt and Road Initiative.
In order to finance the airport, a grant agreement between Chain and Pakistan was signed in May 2017.
“The projects in Gwadar are conducted under a framework agreement with NDRC and a MoU with MOFCOM and the Exim Bank. Unlike many of the other China Pakistan Economic Corridor (CPEC) projects in Gwadar, the New Gwadar International Airport is not financed by a loan from China but through a Chinese grant,” cpecinfo.com said in a statement.
Scheduled to become operational over the next three year, the new airport will be developed under the guidance of the Civil Aviation Authority (CAA).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataOnce commissioned, it will become the second largest airport in Pakistan.
Pakistan believes that the new international airport, which will operate under the open skies policy, will help Gwadar to emerge as a regional economic hub.
The soil testing on the land, which started in January last year, has been completed through 300 boreholes made on various locations.
The aviation authorities have already approved the design and work plan for the airport.
