KARACHI: Pakistan is set to finalize a $2 billion investment agreement with a prominent European shipping firm by October this year, according to Maritime Affairs Minister Qaiser Ahmed Sheikh. This announcement follows a recent visit by AP Moller–Maersk CEO Keith Svendsen to explore investment opportunities in Pakistan’s maritime sector.
The European company, which remains unnamed, plans to invest in logistics and infrastructure at the Karachi Port Trust (KPT) and establish a shipbreaking project, aiming to break 750 ships in Pakistan. Additionally, the firm will provide training for the local youth.
This development comes alongside Danish shipping giant Maersk’s interest in investing in terminal and port infrastructure in Pakistan. Maersk, which has a significant presence in Pakistan’s logistics sector, operates extensive warehousing facilities and a logistics hub at Port Qasim, Karachi.
Earlier this year, Pakistan also signed a $395 million agreement with Abu Dhabi Ports Group for the development of a container and cargo terminal, reflecting the growing international interest in Pakistani ports.
