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Hong Kong-based port operator to invest $240 mn in Pakistan

ISLAMABAD: Hong Kong-based port operator Hutchison Port Holdings will invest approximately $240 million into Pakistan that will significantly increase container terminal capacity at the Karachi Port.

In this regard, a delegation of Hutchison Port Holdings led by their Group Managing Director Mr Eric Ip called on Prime Minister Imran Khan on Tuesday. Minister for Maritime Affairs Ali Zaidi was also present.

The prime minister was informed that this will increase Hutchison Ports’ total investment in Pakistan to $1 billion while Hutchison employees will also grow to 3,000 people.

PM Khan was also briefed about the development of Hutchison Port Holdings, its parent company CK Hutchison Holdings, and the group’s commitment to play a pivotal role in facilitating the economic growth of Pakistan, as well as supporting the development of Karachi Port into a major hub for trade in Asia.

PM Imran Khan welcomed the investment from Hutchison Port Holdings and their commitment to the Pakistan’s economic prosperity. He reiterated the commitment and focus of the government to facilitate investment and ease-of-doing-business that would ultimately result in economic growth and employment generation.

Hutchison Port Holdings is one of the world’s largest port companies with over 30,000 employees, operating 52 ports and terminals in 27 countries spanning Asia, the Middle East, Africa, Europe, the Americas and Australia. The company is headquartered in Hong Kong.

Ambassador Ali Jehangir Siddiqui stated that as a result of a fairly priced currency, unit volumes of exports were increasing and there was a great need for additional container terminal capacity.

As a result, this investment would support export competitiveness and also result in greater revenue for both the federal exchequer and the Karachi Port Trust, he said.

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