$1bn investment plans proposed for ports uplift
KARACHI: A prospective investment blueprint delineating a proposed infusion of $1 billion into various plans for port development in Pakistan was unveiled on Tuesday by Hutchison Ports, one of the world’s leading ports network, already operating in the country.
The plan was unveiled by a delegation of the Hong Kong-based ports network during a meeting with Minister for Maritime Affairs Qaiser Ahmed Sheikh. The delegation discussed the prospective expansion plans for investment in Karachi Port Trust (KPT) and other strategic ports across Pakistan.
Hutchison Ports’ regional head Andy Tsoi presented a strategic vision for enhancing port facilities and fortifying connectivity in the region and informed the minister that an initial tranche of $200 million is to be designated for immediate deployment, with the remainder to be disbursed across phased implementations.
The minister emphasised the importance of fortifying Pakistan’s maritime infrastructure and translating prospective plans into tangible form, facilitating substantive deliberations towards actionable outcomes. He also emphasised the indispensable role of port development in driving overall economic progress.
The delegation was of the opinion that at the core of the investment strategy lies the augmentation of logistics infrastructure, encompassing the establishment of state-of-the-art warehouses, storage facilities, and depots.
Furthermore, the plan entails the construction of modern road networks and the integration of technology to optimise operational efficiency and elevate transshipment handling capabilities to world-class standards.
Published in Dawn, April 24th, 2024