Tuesday, February 19, 2013

China takes over Pakistan port from Singapore

China takes over Pakistan port from Singapore: China took control Monday of a strategic Pakistani port on the Arabian Sea, as part of a drive to secure energy and maritime routes that also gives it a potential naval base, sparking Indian concern.
The Pakistani cabinet approved the transfer of Gwadar, currently a commercial failure cut off from the national road network, from Singapore's PSA International to the state-owned China company on January 30.
It had not been clear when the actual handover would take place, but Pakistani President Asif Ali Zardari presided over the signing of a memorandum of understanding on Monday that was broadcast live by local television.