Renowned European shipping giant Maersk has made headlines with its ambitious proposal to inject a staggering $2 billion into Pakistan, a move set to significantly bolster the country’s maritime infrastructure, particularly with a keen focus on fortifying operations at the Karachi Port.
Federal Minister for Maritime Affairs, Qaiser Ahmad Sheikh, confirmed Maersk’s robust intentions to finalize this monumental investment deal by October. This hefty investment is slated to span across a diverse array of sectors, including comprehensive infrastructure enhancement, modernization of shipping facilities, optimization of logistical networks, and facilitating shipbreaking activities at the Karachi Port.
“Maersk has come forward with an impressive proposal for a substantial investment,” Sheikh announced, emphasizing the escalating allure of Pakistan’s burgeoning port facilities for prominent international enterprises.
Syedin Raza Zaidi, Chairman of the Karachi Port Trust (KPT), exuded confidence in the potential of the Karachi Port, which has been steadily attracting substantial foreign investments.
“Given the immense potential of the Karachi port, major corporations are increasingly turning their gaze towards Pakistan,” Zaidi remarked optimistically. He also outlined ambitious plans to catapult KPT’s revenue from $2 billion to an impressive $10 billion within the current fiscal year, buoyed by recent tariff adjustments and strategic initiatives.
Furthermore, Zaidi disclosed that the Maritime District plan has been formally submitted to the Special Investment Facilitation Council (SIFC). This comprehensive blueprint entails strategic investments in real estate ventures aimed at diversifying revenue streams, strategically leveraging the prime 20 percent of land holdings under the jurisdiction of KPT, and fostering sustainable growth and development in the maritime sector.
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