BEIJING, March 15: Pakistan and China signed a comprehensive agreement here on Friday, finalizing technical details for the construction of the first phase of Gwadar port.

“This is the final agreement and also a go-ahead signal to formally undertake the construction this month,” a senior official of the Chinese government told APP.

The first phase will cost $248 million, of which $198 million will be contributed by the Chinese government. The project will be completed within three years.

According to the sources, President Pervez Musharraf will inaugurate the construction on March 23. The Chinese Vice Prime Minister, Wu Bangguo, who is scheduled to arrive in Islamabad on March 21, will represent the Chinese side at the inauguration ceremony.

The agreement was reached after negotiations held between the Secretary Communications, Iftikhar Rashid, and the Chinese government officials.

According to the agreement, the two countries will jointly supervise the construction work ensuring quality and its timely completion. “Consultants will be appointed from both the sides for this purpose,” the sources added.

It was also agreed that the manpower, to be engaged in the construction will be employed from among the local residents. However, the Chinese government will provide the services of technical experts.

The agreement envisages technical details of the construction, including the design and its layout. The first phase includes development of 15.5 metres channel draining draft, construction of three berths and approach channel.

The second phase to be undertaken in 2005, includes channel draining draft to a level of 20 metres with a capacity of receiving an oil carrier having capacity of 20 to 30 million tons of oil, bulk terminal and terminal construction.

China Harbour Engineering Company Group (CHEC) will undertake the construction. The company has a wide experience in the construction of ports and bridges and has completed many big domestic and international projects of bridges, highways and airports.—APP