Shipping giant Maersk to invest $2b in Pakistan

Danish shipping company Maersk has announced to invest $2billion in Pakistan’s port and transport infrastructure over the next two years.

According to state-owned news agency, the investment under this project will contribute to the infrastructure development and economic improvement.

In this regard, Minister for Maritime Affairs Qaiser Ahmed Sheikh will visit Denmark this month for the signing of a Memorandum of Understanding (MoU) between Maersk Shipping Company and Karachi Port Trust.

In a statement Qaiser Ahmed Sheikh said that Karachi has great potential to increase exports and the Maritime Affairs ministry is providing an enabling environment to the business community in this regard.

Last month, the Chief Executive Officer of Abu Dhabi Ports Pakistan, Khurram Aziz Khan, announced a $250 million investment in Karachi Port over the next ten years during a meeting with Prime Minister Shehbaz Sharif.

Accompanied by a delegation, Khan also detailed a $130 million investment in a fully equipped multipurpose terminal, set to be completed within two years.

The delegation briefed the prime minister on the enhancements to the container terminal facility at Karachi Port, which will include automated gates, an expanded berth, a crane rail track, and new infrastructure.