ISLAMABAD: A delegation from a leading logistics company, A.P. Moller-Maersk (APM) Terminals, met Pakistani officials in Islamabad this week for talks on developing and modernizing the South Asian nation’s ports, state-run Radio Pakistan reported on Friday.
Maersk is an integrated container logistics company operating in 130 countries. APM Terminals has been developing and operating advanced ports and container terminals for over half a century and has 60 strategically located ports and container terminals around the globe and several more in development.
On Thursday, a delegation from the company led by its CEO Keith Svendsen separately met Pakistani Finance Minister Muhammad Aurangzeb and Minister for Maritime Affairs Qaiser Ahmed Sheikh.
“Pakistan is keen to explore future projects and investments with APM especially in the maritime sector,” Aurangzeb was quoted as telling the APM delegation in a report by Radio Pakistan. “The government is fully committed to facilitate an environment conducive to business and investments.”
Keith Svendsen (2L), CEO of A.P. Moller-Maersk Terminals, accompanied by Danish Ambassador Jakob Linulf (L) meets Pakistan’s Minister for Commerce Jam Kamal Khan (R) in Islamabad on April 25, 2024, to discuss prospective opportunities for APM Terminals in Pakistan. (Photo courtesy: Finance Ministry)
Radio Pakistan quoted Svendsen as telling Aurangzeb APM was “pleased” to engage with Pakistan and saw “great potential” in the Pakistani market.
“Affirming confidence in the country’s growth prospects and development agenda, he expressed commitment to enhance its investment and operations to support the country’s trade,” the report said.
Svendsen and his delegation also met the maritime affairs minister and discussed investment prospects in Pakistan’s ports and terminals sector.
“The delegation head highlighted Moller-Maersk’s prominent global position and its robust relationship with Pakistan, which reflects a market share of approximately 20 percent in containerized import-export activities,” Radio Pakistan said.
“Recognizing the immense growth potential, Keith Svendsen proposed investments to enhance integrated supply chain solutions, including the upgrading of ports and logistics infrastructure. The delegation pledged support for the advancement of maritime affairs in Pakistan and for nurturing a skilled workforce in this sector.”
On Monday, Pakistani and United Arab Emirates (UAE) officials performed the groundbreaking of a $175 million Bulk and General Cargo terminal as part of a new 25-year concession agreement signed between AD Ports Group and Karachi Port Trust (KPT) in Feb. 2024 to outsource operations of the terminal.
Under the terms of the agreement, Karachi Gateway Terminal Multipurpose Limited (KGTML), a joint venture between AD Ports Group, as a majority shareholder, and Kaheel Terminals, a UAE-based company, will develop, operate and manage the Bulk and General Cargo Terminal, berths 11 to 17 at Karachi Port’s East Wharf.
