The representatives of Hutchison Port Holdings led by their Group Managing Director Eric Ip, were welcomed by the prime minister at his office today.
Eric Ip informed the prime minister of the company’s new investment into Pakistan approximating $240 million that will create an availability of the significant amount of new container terminal capacity at the Karachi Port. After $240m investment, the total investment by Hutchison Port’s in Pakistan increases to $1 billion.
The Prime Minister was notified that the new investment will increase Hutchison employees to 3,000 people. In accordance with the statement, PM Imran was also informed about the progress of Hutchison Port Holdings, its parent company CK Hutchison Holdings, and the group’s dedication to play a major role in improving economic growth of Pakistan, as well as assisting the development of Karachi Port into a large hub for trade in Asia.
At the time of the meeting, Ambassador at Large for Foreign Investment Ali Jehangir Siddiqui said that in consequence of a fairly valued Rupee, unit volumes of exports were expanding and there was a demand for extra container terminal capacity.
Hutchison Port Holdings is one of the world’s largest port companies. With over 30,000 employees, it is operating 52 ports and terminals in 27 countries spanning Asia, the Middle East, Africa, Europe, the Americas and Australia. The company have a headquarter in Hong Kong.
Adviser to Prime Minister on Commerce Abdul Razzaq Dawood, Minister for Maritime Affairs Syed Ali Haider Zaidi, Special Assistant to Prime Minister Syed Zulfiqar Abbas Bukhari, Board of Investment Chairman Zubair Haider Gilani and senior representatives were also present at the meeting.