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Friday December 22, 11:21 PMSingapore's PSA to run Pakistan's Gwadar portISLAMABAD, Dec 22 (Reuters) - A consortium led by Singapore port operator PSA International [PSA.UL] has won a contract to operate Pakistan's southwestern Gwadar port, a government minister said on Friday."Prime Minister Shaukat Aziz today approved awarding of this contract to PSA," Babar Khan Ghauri, Minister for Ports and Shipping told Reuters. "They will take charge of the port by the third week of January," he added. Ghauri declined to give the financial details of the deal, but said the government had constituted a committee to finalise the details of the agreement. The Gwadar deep-sea port is on the Arabian Sea, about 450 km (280 miles) west of the city of Karachi and about 70 km (45 miles) east of the Iranian border. China provided $198 million for the $248 million port project. Under the concession, the PSA will take over the operation and management of the port for 40 years. Pakistan's AKD Group is part of the Singaporean consortium. |
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