ISLAMABAD: Chinese investors are planning to build a chemical and automobile city in Gwadar under the umbrella of the China-Pakistan Economic Corridor (CPEC). According to private news channel, sources linked to the CPEC project stated that the Chinese authorities had already initiated paperwork on the said projects and this showed their seriousness. Analysts have advised owners of the local automobile industry to start joint ventures with Chinese because it would help in transfer of technology and growth of the local industry. Earlier, China announced that it would set up a steel mill under the CPEC apart from other projects. China is building a network of roads and power plants under a project known as China-Pakistan Economic Corridor (CPEC) that is expected to absorb $46 billion in Chinese investment in the coming decade. It is pertinent to mention here that the Gwadar port is located on the Arabian Sea and it occupies a strategic location between South Asia, Central Asia and the Middle East.
