Pakistan Prime Minister Imran Khan has formally approved a proposal by state-owned naval shipbuilder Karachi Shipyard and Engineering Works (KS&EW) to acquire land on which it will put up a new shipyard.
The southwestern port city of Gwadar was chosen as the site of the new shipyard partly because of the city's strategic importance in what has been dubbed as the China-Pakistan Economic Corridor, KS&EW managing director Rear Admiral Ather Saleem said in a recent meeting with members of the Federation of Pakistan Chambers of Commerce and Industry.
Once completed, the KS&EW facility in Gwadar will become the company's, as well as Pakistan's, second shipyard.
