Maersk to Invest $2 Billion in Pakistan
Minister highlights increasing interest of international companies in Pakistan’s port facilities
Karobar
Renowned European company Maersk has announced its intention to invest $2 billion in Pakistan.
This substantial investment is set to bolster the country’s maritime infrastructure, particularly focusing on the Karachi Port.
Federal Minister for Maritime Affairs, Qaiser Ahmad Sheikh, confirmed that Maersk aims to finalize this major capital deal by October. The investment will encompass various sectors including infrastructure, shipping, logistics, and shipbreaking at Karachi Port.
“Maersk has approached us for a big investment,” stated Sheikh, highlighting the increasing interest of international companies in Pakistan’s port facilities.
Chairman of Karachi Port Trust (KPT), Syedin Raza Zaidi, expressed optimism about the potential of Karachi Port, which has been attracting significant foreign investments.
“Seeing the potential of Karachi port, big companies are coming to Pakistan,” Zaidi noted. He further shared ambitious plans to elevate KPT’s revenue from $2 billion to $10 billion this year, aided by a recent increase in tariffs.
The Chairman also revealed that the Maritime District plan has been submitted to the Special Investment Facilitation Council (SIFC). This plan includes strategic investments in real estate to enhance income, leveraging the prime 20 percent of lands owned by KPT.
