January 24, 2024 (MLN): The proposed $1 billion investment plan was presented by a high-level delegation from Hutchison Ports, led by Andy Tsoi, Managing Director for the Middle East & Africa Division, during a meeting with Federal Minister for Maritime Affairs Qaiser Ahmed Shaikh and Secretary Syed Zafar Ali Shah.
This groundbreaking proposal, featuring an initial $200 million in Foreign Direct Investment (FDI), seeks to modernize Pakistan's port infrastructure and enhance its position in global trade.
The proposed investment aims to upgrade Karachi International Container Terminal (KICT) and South Asia Pakistan Terminals Limited (SAPT) with cutting-edge automation technologies to boost operational efficiency, according to the press release.
It also emphasizes the adoption of eco-friendly solutions, including the introduction of electrified and remote-controlled equipment to reduce carbon emissions, aligning with the government’s commitment to sustainable development.
In addition, Hutchison Ports' proposal includes the development of a state-of-the-art warehousing depot to meet the growing demands of Pakistan's trade sector.
The plan also outlines substantial investment in upgrading road infrastructure around the south wharf to ensure smooth container traffic flow and enhance supply chain efficiency.
Federal Minister Qaiser Ahmed Shaikh welcomed the proposal, stating that this partnership represents a significant milestone in Pakistan’s journey to becoming a global trade leader.
Hutchison Ports’ confidence in our economic potential highlights the transformative opportunities in our maritime sector.
Andy Tsoi, Managing Director of Hutchison Ports, expressed his views that we are proud to partner with the Government of Pakistan to modernize and innovate its maritime infrastructure.
This proposed investment reflects our long-term commitment to enhancing trade and logistics in the region, he added.
Andy Tsoi was accompanied by Capt. Rashid Jamil, Country Advisor for Hutchison Ports Pakistan, and Leonard Fung, Business Director for the Middle East & Africa Division at Hutchison Ports.
Other delegates expressed their optimism about the project’s potential to substantially enhance Pakistan’s trade and logistics capabilities, further solidifying Hutchison Ports’ long-standing partnership with the country.
The Ministry of Maritime Affairs continues to prioritize fostering partnerships that drive economic growth, create jobs, and strengthen Pakistan’s global trade networks.
This landmark investment proposal highlights Pakistan’s growing potential to become a key player in the global maritime industry.
Copyright Mettis Link News
Posted on: 2025-01-24T09:54:46+05:00
