Gwadar Free Zone Company Limited (GFZCL) has taken into possession 75 acres (30.35 hectares) at Navy Ward for the continual development of Gwadar North Free Zone in line with purpose set forth in concession agreement and land deed. The possession activity came to happen during a handing over and taking over ceremony held among GPA, COPHC and GFZCL on the previous day, Gwadar Pro reported on Tuesday.

Gwadar Port Authority (GPA) delivered the GFZCL a peaceful, vacant and physical possession of the subject land 75 acres free from all encumbrances, claims, demands, charges hindrances, interruption and litigation. Out of 75 acres of land, 55 acres have been handed over by Pakistan Navy and 20 acres have been handed over by Pakistan Coast Guards.

As per document available to Gwadar Pro, Gwadar Port Authority (GPA) and China Overseas Ports Holding Company (COPHC) through its subsidiary Gwadar Free Zone Company Limited (GFZCL) entered into a concession agreement dated 6th February 2007 and a lease deed dated 20th April 2015 under which GPA is obligated to put the GFZCL in possession of a total 2,280 acres of land.

Pursuant to the lease deed, GPA had earlier handed over possession 637 acres on November 11, 2015 at Navy ward and 1468.1023 acres on 1st October 2016 at Wadi Dhore Ward. Moreover, it further handed over 60 acres of land for Gwadar Free Zone South (Phase 1) to Free Zone company.

Finally with current 75 acres possession, GPA has now placed Gwadar Free Zone Company Limited (GFZCL) a culminative 2240 acres which constitutes 98.25 percent of the total land earmarked for Free Zone.

Credit: Independent News Pakistan (INP) — Pak-China