Prime Minister Imran Khan, on Tuesday 15 October, received a delegation from the Hong Kong-based port operator, Hutchison Port Holdings, that will invest $240 million investment for a new container terminal capacity at Karachi Port.
PM @ImranKhanPTI has welcomed $240m worth of investment by #HongKong-based port operator, Hutchison Port Holdings during a meeting with a delegation of @HutchisonPPC led by its Group MD Eric Ip. Chairman BOI @GilaniZubair was also in attendance.
https://t.co/XWjIlXDN4B@pid_gov pic.twitter.com/w3ohqZV7EC— Board of Investment, Pakistan (@investinpak) October 15, 2019
This new investment has increased Hutchison Port Holding’s total investment in Pakistan to US $1 billion.
Prime Minister Imran Khan received the delegation, led by the Group Managing Director of Hutchison Port Holdings, Eric Ip. The foreign delegation also included Mr. Andy Tsoi, Managing Director Middle East & Africa, Mr. Eric Ng, Business Director Middle East & Africa and the leadership of Hutchison Ports’ Pakistani executives.
Prime Minister Imran Khan welcomes USD 240 million foreign investment from Hong Kong based port operator, Hutchison Port Holdings.
A delegation of Hutchison Port Holdings led by their Group Managing Director Mr. Eric Ip called on Prime Minister Imran Khan today. pic.twitter.com/rwcxNC3cgW— Government of Pakistan (@GovtofPakistan) October 15, 2019
The meeting was also attended by the Minister for Maritime Affairs Syed Ali Haider Zaidi, Advisor to PM on Commerce Abdul Razzaq Dawood, Special Assistant to PM Syed Zulfiqar Abbas Bukhari, Ambassador at Large for Foreign Investment Mr. Ali Jehangir Siddiqui, Chairman Board of Investment Zubair Haider Gilani and other senior officials.
Hutchison Port’s fresh US $240 Million Investment
Hutchison Port Holdings will make further investment in Pakistan, approximating US $240 million, which will allow the availability of a significant amount of new container capacity at the Karachi Port, increasing the Hong Kong-based port operator’s total investment in Pakistan to US $1 billion.
Hutchison Port’s delegation informed the premier that this investment will also provide employment opportunities to 3,000 people. The delegation also briefed the Prime Minister on the development of Hutchison Port and its parent organization, CK Hutchison Holdings.
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The delegation assured the Premier that their organization is committed to playing a “pivotal role in facilitating the economic growth of Pakistan”, alongside contributing their resources to transform the Karachi Port into a major trading hub in Asia.
Prime Minister Imran Khan lauded the investment and commitments made by Hutchison Port Holdings and valued their contributions to facilitate Pakistan’s economic growth. He pledged that the Government of Pakistan will ensure measures to facilitate investment with business-friendly policies that would promote economic prosperity and generate jobs for the people.
Hong Kong's Hutchison Port Holdings is investing $240 Million in Pakistan in addition to their already invested $1 Billion. Most of this investment will be to support & expand the Karachi Port. All this is a result of the investment-friendly environment created by the Government.
— Sardar Tanveer Ilyas Khan (@SardarTanveerIK) October 15, 2019
Ambassador Ali Jehangir Siddiqui said that the Karachi Port is greatly in need of additional container terminal capacity as exports have risen due to the fairly priced currency of the country. He observed that Hutchison Port’s investment would facilitate the government in maintaining the export competitiveness, alongside increasing revenues of the Karachi Port Trust and the national exchequer.
Hutchison Port Holdings is one of the leading port companies in the world, and this Hong Kong-based port operator has dynamically expanded its operations across the world. Currently, it has over 30,000 employees and operates 52 ports and terminals in 27 countries across Asia, Africa, Europe, the Americas, Middle East, and Australia.
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The port operated by Hutchison Port in Pakistan is situated at the Keamari Groyne basin, and it has facilitated trade and investment by providing large vessels the most convenient route to enter Karachi.
Over the course of its partnership with Pakistan, Hutchison Port Holdings has invested US $1 billion, of which US $600 million to develop the terminal and equip it with the latest technology and the new US $240 million investment, while the Karachi Port Trust investment US $350 million for reclamation work and dredging.
Hutchison Port Holdings @HutchisonPPC is one of the world’s largest port companies with over 30,000 #employees & operates 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 pic.twitter.com/mTiXfzEaJQ
— Board of Investment, Pakistan (@investinpak) October 15, 2019
Analysts observe that the country is opening up to receive foreign investment and economic prosperity due to the investment and trade-friendly policies of the Pakistan Tehreek-e-Insaf (PTI) led government.
Hutchison Port Holdings to invest $240m in Pakistan. This investment to play a pivotal role in facilitating economic growth & also support the development of Karachi Port into a major hub for trade in Asia
Due to best trade policies, companies are investing in Pakistan, Great 👍
— Mahmood Moulvi (@MoulviMahmood) October 15, 2019
Ambassador Ali Jehangir Siddiqui, Pakistan’s Ambassador-at-Large for foreign investment, is also being accredited for his contributions in bringing illustrious investors to revive Pakistan’s trade and energy sectors and facilitate economic growth and job creation.
Ambassador Ali Jehangir Siddiqui Office closes its first investment deal within three months.
$240 million dollar investment by one of the world's leading port operators, Hutchison Port Holdings, based in Hong Kong to build greater terminal capacity at Karachi Port, @adeel_azhar pic.twitter.com/eyoO8nfMKX— Rajput (@twrh2) October 15, 2019