UAE port and logistics giant keen to invest in Pakistan
- The interest was shown by a UAE delegation headed by Mohammed Al-Muallem, Managing Director of a UAE company, DP World.
The United Arab Emirates (UAE) is keen to invest in development projects in Pakistan after a UAE delegation held a meeting with Federal Minister for Maritime Affairs Ali Zaidi.
The interest was shown by a UAE delegation headed by Mohammed Al-Muallem, Managing Director of a UAE company, DP World, Dubai port and logistics giant. “The delegation informed that the leadership of Dubai is keenly interested in investing in development projects in Pakistan,” said Zaidi.
The meeting discussed investment in seaport projects in Pakistan.
Chairman China Pakistan Economic Corridor (CPEC), Lieutenant General (Retired) Asim Saleem Bajwa was also present during the meeting.
Back in February, DP World said it would return to full state ownership and delist from the Nasdaq Dubai, in a deal worth some $2.7 billion. State-owned parent company Port and Free Zone World has offered to acquire the 19.55 percent of DP World's shares currently traded on the Nasdaq Dubai stock exchange, DP World said in a statement.
The new deal puts the market value of DP World, which operates some 78 ports and terminals in 40 countries, at just under $14 billion.
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