The first phase of the Special Economic Zone (SEZ) of the Gwadar port in Pakistan will see investment by 43 Chinese companies, reported The Express Tribune. About 200 more Chinese companies have also registered, showing their interest to invest in the SEZ.

Besides infrastructure and energy projects, various industries, including textiles, chemicals, automobiles, and mobiles, would be set up in the Gwadar Industrial Zone, said Zhang Baozhong, chairman of China Overseas Ports Holding Company,  the firm that operates Gwadar Port.

Zhang said the investment will create immense employment opportunities for Pakistanis. He said the CPEC projects are getting full cooperation from the Pakistan government and rejected media reports about hindrance in the projects.

He also announced the plan to establish a liquified natural gas terminal at the port. “The Gwadar Port is fully operational and cargo ships have started arriving,” he was quoted as saying by The Express Tribune.

The authorities are also working on setting up a desalination plant and an electricity station. The projects will address the problem of drinking water and power for the 150,000 people living in the port city.

Under the CPEC, China is investing over $62 billion in Pakistan’s multiple sectors to revive its economy. Over $45 billion has already been invested in the country.