The agreements span the creation of a dedicated freight corridor between Karachi Port to the Pipri Marshalling Yard 45 km away, capital dredging of the navigation channel to Port Qasim and the potential development of an economic zone at Port Qasim to attract foreign direct investment.
In executing the projects, DP World will act on behalf of the Dubai Government, and state-run Pakistan Railways and Port Qasim Authority will act on behalf of the Pakistan Government.
DP World chairman and CEO Sultan Ahmed bin Sulayem, said: “Pakistan is a growing market, and an important trade corridor to Central Asia. We are proud to have contributed to its trading ability through our operations at Qasim International Container Terminal and are honoured to work with various Pakistani government organizations to develop new freight systems and with Port Qasim Authority to enhance port connectivity and investment.”
HE Shahid Ashraf Tarar, Federal Minister of Communication, Railways and Maritime Affairs, said: “The signing of Investment Framework Agreements highlights the importance of Pakistan as gateway to Asia and commercial dividends associated with its strategic location”.
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