Hutchison Ports, one of the world’s leading ports network, has agreed to fast-track its $1 billion investment plan to modernise Pakistan’s port infrastructure, according to a statement from the Ministry of Maritime Affairs.
The development comes after Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry met Andy Tsoi, Managing Director of Hutchison Port Holdings Limited.
The two sides met to discuss “swift execution of the previously proposed $1 billion investment aimed at upgrading Pakistan’s port infrastructure”.
“The meeting focused on addressing challenges, expediting approvals, and ensuring smooth implementation of modernisation plans to enhance Pakistan’s trade and maritime capabilities,” the statement read.
During the meeting, Andy Tsoi reiterated Hutchison Ports’ commitment to Pakistan and emphasised the importance of efficient execution to maximise economic benefits, it added.
“Both sides discussed regulatory clearances, infrastructure upgrades, and supply chain improvements, agreeing to remove bottlenecks that could slow down the project.
“Special attention was given to accelerating the deployment of automation, digitalisation, and green port solutions to ensure sustainable operations.”
As per the details, the investment plan covers modernisation of Karachi International Container Terminal (KICT) and South Asia Pakistan Terminals Limited (SAPT), including advanced port equipment, electrification of operations, and improved road connectivity.
To facilitate seamless trade, both parties agreed to enhance coordination among stakeholders and establish a clear roadmap for timely execution.
The minister assured Hutchison Ports of the government’s full cooperation in resolving operational challenges, streamlining approvals, and ensuring a favorable investment environment.
He also highlighted the potential of maritime tourism, emphasising that “Pakistan’s coastline offers immense opportunities for cruise tourism, eco-tourism, and waterfront development”.
The minister expressed willingness to collaborate with Hutchison Ports on sustainable tourism initiatives alongside port expansion, according to the statement.
“Andy Tsoi welcomed the government’s proactive approach and stressed the need for continuous engagement to keep the project on track. Both sides agreed to establish a working group for monitoring progress, addressing emerging challenges, and ensuring timely implementation of all phases of the investment plan,” the statement said.
Last month, Hutchison Ports presented their $1 billion investment plan to Finance Minister Muhammad Aurangzeb.
“Over this period, the company has contributed more than Rs225 billion in government revenues and has provided employment to a workforce of 5,000 individuals,” it was told during that meeting, according to a statement from the Finance Ministry then.
Comments
Comments are closed for this article.