ISLAMABAD: Danish shipping giant Maersk has announced plans to invest $2 billion in Pakistan’s port and transport infrastructure over the next two years, marking a significant boost to the country’s economic and infrastructural development.
According to Pakistan’s state-owned news agency, the substantial investment aims to enhance the country’s port facilities and transportation networks, fostering economic growth and improving logistical efficiency.
Minister for Maritime Affairs Qaiser Ahmed Sheikh will travel to Denmark this month to finalize the MoU between Maersk and the Karachi Port Trust, which will outline the specifics of the investment.
In a statement, Qaiser Ahmed Sheikh highlighted the potential for Karachi to become a major hub for exports, emphasizing the government’s commitment to creating a conducive environment for business and investment.
“Karachi holds tremendous potential to boost exports, and the Maritime Affairs ministry is dedicated to facilitating this growth through supportive policies and infrastructure improvements,” Sheikh said.
This announcement follows a recent investment pledge from Abu Dhabi Ports Pakistan. Last month, Khurram Aziz Khan, CEO of Abu Dhabi Ports Pakistan, announced a $250 million investment in Karachi Port over the next decade during a meeting with Prime Minister Shehbaz Sharif.
Khurram Aziz Khan’s delegation also announced a $130 million investment in a fully equipped multipurpose terminal, expected to be completed within two years. The planned upgrades to the Karachi Port include enhancements to the container terminal facility, such as automated gates, an expanded berth, a crane rail track, and new infrastructure.
The combined investments from Maersk and Abu Dhabi Ports are expected to significantly enhance Pakistan’s port infrastructure, improve logistical operations, and strengthen the country’s position as a key player in regional and global trade. The investments will also create job opportunities and stimulate economic activity in the region.