Saudi Arabia invited to invest in ports

Minister pitches maritime business district, oil terminal and 100-acre research park

ISLAMABAD:

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has invited Saudi Arabia to invest in Pakistan's maritime sector, citing opportunities in ports, logistics, blue economy initiatives and related infrastructure.

He made the remarks during an online meeting with the chairman of the Pakistan-Saudi Arabia Joint Business Council (JBC), Mansour Bin Mohammed Al Saud.

Chaudhry said the ministry saw considerable scope for collaboration in line with Saudi Arabia's Vision 2030 and Pakistan's development priorities.

The meeting was attended by the chairmen of all major ports, the CEO of the Pakistan National Shipping Corporation, the managing director of the Korangi Fish Harbour Authority and Pakistan's ambassador to Saudi Arabia.

Chaudhry said Saudi investors could explore opportunities in the proposed maritime business district, a marine workshop project and the drydock and floating dock facility at Manora under the Karachi Port Trust.

He added that Port Qasim offered prospects for a multipurpose cargo terminal, an integrated second oil terminal and storage farm, as well as an energy city project.

Chaudhry also invited Saudi investment in the expansion of the PNSC fleet and the establishment of an approximately 100-acre Aqua Research and Technology Park at the Korangi Fish Harbour Authority.