Islamabad Pakistan – April 23, 2024- A delegation from Hutchison Group, a globally renowned Network in port and logistics operations, called on the Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh to discuss prospective expansion plans for investment in the Karachi Port Trust (KPT) and potentially other strategic ports across Pakistan.
The meeting was attended by Federal Secretary Maritime Dr. Iram, Chairman Karachi Port Trust (KPT), Chairman Port Qasim Authority and other higher officials of the Ministry. The delegation, comprised of senior executives from Hutchison Ports, including Regional Head of Hutchison Ports Mr. Andy Tsoi, country advisor HP, GM SAPT Unit Changsu Ki, GM KICT, Alvin Chow.
The proceedings commenced with welcome remarks extended by the Federal Minister, Qaiser Ahmed Sheikh focusing the importance accorded to the visit and the mutual commitment to fortifying Pakistan’s maritime infrastructure. Minister urged the participants to translate prospective plans into tangible form, facilitating substantive deliberations towards actionable outcomes. Additionally, he emphasized the indispensable role of port development in driving overall economic progress.
Mr. Andy Tsoi presented their strategic vision for enhancing port facilities and fortifying connectivity in the region.
In the meeting, the Hutchison Ports unveiled a prosetive investment blueprint, delineating a proposed infusion of $1 billion into various planes of port development. Notably, an initial tranche of $200 million is to be designated for immediate deployment, with the remainder to be disbursed across phased implementations.
They further added that at the core of the investment strategy lies the augmentation of logistics infrastructure, encompassing the establishment of state-of-the-art warehouses, storage facilities, and depots. Furthermore, the plan entails the construction of modern road networks and the integration of technology to optimize operational efficiency and elevate transshipment handling capabilities to world-class standards.
The Hutchison Ports, which presently operates through two terminals at KPT via Karachi International Container Terminal (KICT) and South Asia Pakistan Terminals Limited (SAPTL), reaffirmed their commitment to advancing port facilities in collaboration with the Federal Ministry of Maritime Affairs.
Federal Minister expressed that the Hutchison Ports must come up with a concrete plan for the said expansion and investment in the sector.
In response, the heads of KICT and SAPTL expressed their profound appreciation for the Federal Minister’s proactive stance on port development and expansion of facilities. They committed to bring a comprehensive and inclusive plan for prospective expansion and investment so meaningful dialogue could ensue to translate it into reality. The delegation reaffirmed its belief that a collaborative partnership with Hutchison Group will bring prosperity for Pakistan’s maritime industry, enhancing economic growth and increasing international trade prospects.
The meeting concluded with remarks from Federal Minister reiterating government’s firm commitment to collaborative efforts aimed at actualizing the shared vision of positioning Karachi Port Trust as an outstanding global maritime hub.
