Hutchison Port Holdings Limited has proposed a $1 billion investment plan to modernize Pakistan’s port infrastructure. The proposal was discussed during a meeting between a high-level delegation, led by Andy Tsoi, Managing Director for the Middle East & Africa Division of Hutchison Ports, and Pakistan’s Federal Minister for Maritime Affairs, Qaiser Ahmed Shaikh, along with Maritime Secretary Syed Zafar Ali Shah. Accompanying Andy Tsoi were Capt. Rashid Jamil, Country Advisor for Hutchison Ports Pakistan, and Leonard Fung, Business Director for the Middle East & Africa Division at Hutchison Ports. The proposal form the  private holding company incorporated in the British Virgin Islands   includes an upfront $200 million Foreign Direct Investment (FDI) to modernize Pakistan’s port infrastructure and elevate its role in global trade. The investment focuses on upgrading Karachi International Container Terminal (KICT) and South Asia Pakistan Terminals Limited (SAPT) with advanced automation technologies to enhance operational efficiency and adopt eco-friendly solutions. Plans include introducing electrified and remote-control equipment to reduce carbon emissions, aligning with the government’s commitment to sustainable development. Additionally, the proposal includes the establishment of a state-of-the-art warehousing depot to meet the growing demands of Pakistan’s trade sector. Significant funding is also proposed to improve road infrastructure around the south wharf to ensure smooth container traffic flow and strengthen supply chain efficiency. The Ministry of Maritime Affairs reaffirmed its focus on fostering partnerships that drive economic growth, create jobs, and strengthen Pakistan’s global trade networks. This landmark proposed investment underscores the country’s potential to become a key player in the global maritime industry. (ICE ISLAMABAD)

Fonte notizia: proft