Denmark's Maersk to invest $2bn in Pakistan’s ports over 2 years

MG News | August 05, 2024 at 10:42 AM GMT+05:00

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August 05, 2024 (MLN): In a major upcoming economic development for Pakistan, Denmark's Maersk Shipping Line will invest $2 billion over the next two years in the infrastructure of ports, terminals, dredging, transshipment, and road construction.

This announcement was made by the Federal Minister for Naval Affairs Qaiser Ahmed Sheikh while briefing journalists in Karachi.

He said that the federal cabinet has approved the government-to-government Memorandum of understanding (MoU) between Denmark and Pakistan.

As a result, the Minister of Ports and Shipping will visit Denmark in August to sign the agreement between the two countries.

As per the details, the MoU will be between Maersk, the world's largest shipping line, and Karachi Port Trust (KPT).

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