ISLAMABAD: Abu Dhabi Ports Pakistan will invest $250 million in the country over a period of ten years, an official statement announced Friday, as it plans to build an advanced port facility in the country’s seaside metropolis of Karachi.
Last year in May, the leading maritime and logistics provider based in the United Arab Emirates, signed a memorandum of understanding with the Karachi Port Trust to construct a premier transshipment hub in the city.
The Pakistani officials expressed hope at the time that the UAE company would help transform Karachi Port into a world-class maritime facility.
“Abu Dhabi Ports Pakistan will invest $250 million in Karachi Port over the next ten years,” said an official statement released after a high-level delegation of the company called upon Prime Minister Shehbaz Sharif.
“A state-of-the-art, fully-equipped multipurpose terminal, being constructed with an investment of $130 million, will be completed in the next two years,” it added while quoting from a briefing given by the delegation members.
The statement said the company wanted to improve container terminal facilities at the Karachi Port by installing automated gates, an additional 200 meters of berth extension and crane rail tracks.
“The construction of new infrastructure at the terminal will allow the docking of ships carrying up to 120,000 tons of cargo, thereby increasing economic activities at the port,” it continued.
The prime minister hoped digital technology and modern machinery would improve the management of goods and containers at the port.
He also directed the authorities to improve the container system to minimize the clearance time.
“The agreement with Abu Dhabi Ports aims at transparency, increased efficiency, and improved port operations,” he was quoted as saying.
He assured the UAE company of his government’s full support regarding the implementation of Pakistan’s agreement with it to maximize its benefits.
The prime minister also instructed railway officials to provide freight wagons and necessary rolling stock to make the project operational and enhance cargo transportation from the terminal.
Pakistan announces $250 million investment by Abu Dhabi Ports over 10 years in Karachi
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Pakistan announces $250 million investment by Abu Dhabi Ports over 10 years in Karachi
- Senior company delegation briefs PM Sharif on plans to upgrade the container terminal facility
- The improved infrastructure will help the docking of ships carrying up to 120,000 tons of cargo
ADB, Pakistan sign over $300 million agreements to undertake climate resilience initiatives
- Pakistan ranks among nations most vulnerable to climate change and has seen erratic changes in weather patterns
- The projects in Sindh and Punjab will restore nature-based coastal defenses and enhance agricultural productivity
ISLAMABAD: The Pakistani government and the Asian Development Bank (ADB) have signed more than $300 million agreements to undertake two major climate resilience initiatives, Pakistan’s Press Information Department (PID) said on Tuesday.
The projects include the Sindh Coastal Resilience Sector Project (SCRP), valued at Rs50.5 billion ($180.5 million), and the Punjab Climate-Resilient and Low-Carbon Agriculture Mechanization Project (PCRLCAMP), totaling Rs34.7 billion ($124 million).
Pakistan ranks among nations most vulnerable to climate change and has seen erratic changes in its weather patterns. In 2022, monsoon floods killed over 1,700 people, displaced another 33 million and caused over $30 billion losses, while another 1,037 people were killed in floods this year.
The South Asian country is ramping up climate resilience efforts, with support from the ADB and World Bank, and investing in climate-resilient infrastructure, particularly in vulnerable areas.
“Both sides expressed their commitment to effectively utilize the financing for successful and timely completion of the two initiatives,” the PID said in a statement.
The Sindh Coastal Resilience Project (SCRP) will promote integrated water resources and flood risk management, restore nature-based coastal defenses, and strengthen institutional and community capacity for strategic action planning, directly benefiting over 3.8 million people in Thatta, Sujawal, and Badin districts, according to ADB.
The Punjab project will enhance agricultural productivity and climate resilience across 30 districts, improving small farmers’ access to climate-smart machinery, introducing circular agriculture practices to reduce residue burning, establishing testing and training facilities, and empowering 15,000 women through skills development and livelihood diversification.
Earlier this month, the ADB also approved $381 million in financing for Pakistan’s Punjab province to modernize agriculture and strengthen education and health services, including concessional loans and grants for farm mechanization, Science, Technology, Engineering and Mathematics (STEM) education, and nursing sector reforms.
