Pakistan, Aug. 6 -- The Gwadar Port Authority (GPA) signed on Tuesday a letter of intent (LoI) with Chinese firm Xinning Enterprise to "stimulate major industrial and commercial investments at Gwadar Port and its Free Zone", the Ministry of Maritime Affairs said.

Located in Balochistan, Gwadar Port is a strategically important deep-sea port and a key component of the China-Pakistan Economic Corridor (CPEC), a massive infrastructure project aimed at boosting regional trade and connectivity.

Last month, the government unveiled a strategic plan to expand Gwadar Port's operational capacity by introducing new shipping lines and launching a ferry service connecting Pakistan with Gulf Cooperation Council (GCC) countries.

"The initiative is pa...