The CPIC said it has acquired International Port City Project in Gwadar, Pakistan, which has NOC Number 74/07/HS/GDA (B) issued by the Gwadar Development Authority (GDA). On the official website of the GDA, the NOC can be seen clearly in the last updated list till September 2017 by the authority.
The CPIC said that a name change application has been submitted to GDA for changing the name to “China Pak Hills”, which has been received by the port city authority. The name change is a right of any project as per bylaws and has been done in several projects in Gwadar under GDA rules, it said in a statement to this scribe.
A copy was passed to this reporter which shows that the GDA confirmed receipt of an application for the name change on the 5th of October 2017, stating: “you are requested to please process the change of name from International Port City to China Pak Hills”.
The CPIC said that the USD $500 million amount is the gross development value of the anticipated projects planned to be undertaken by China-Pak Investment Corporation over the next 5 years.
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