PM welcomes Hutchison Port Holdings’ US$240 mln investment in Pakistan
ISLAMABAD (92 News) – A delegation of Hutchison Port Holdings, a Hong Kong based port operator, led by their Group Managing Director Eric Ip called on Prime Minister Imran Khan on Tuesday.
Group Managing Director Eric Ip apprised the prime minister of Hutchison Port Holdings’ fresh investment approximating US$240 million into Pakistan that will make available a significant amount of new container terminal capacity at the Karachi Port, and increase Hutchison Ports’ total investment in Pakistan to US$1 billion. The prime minister was informed that this investment will also grow Hutchison employees to 3,000 people.
The prime minister was also briefed about the development of Hutchison Port Holdings, its parent company CK Hutchison Holdings, and the group’s commitment to play a pivotal role in facilitating the economic growth of Pakistan as well as supporting the development of Karachi Port into a major hub for trade in Asia.
Hutchison Port Holdings is one of the world’s largest port companies, with over 30,000 employees, operating 52 ports and terminals in 27 countries spanning Asia, the Middle East, Africa, Europe, the Americas and Australia. The company’s headquartered is in Hong Kong.
Meanwhile, Prime Minister Imran Khan welcomed the investment from Hutchison Port Holdings and their commitment to the Pakistan’s economic prosperity. The prime minister reiterated the commitment and focus of the government to facilitate investment and ease-of-doing-business that would ultimately result in economic growth and employment generation.
Ambassador Ali Jehangir Siddiqui stated that as a result of a fairly priced currency, unit volumes of exports were increasing and there was a great need for additional container terminal capacity. “As a result, this investment would support our export competitiveness and also result in greater revenue for both the federal exchequer and the Karachi Port Trust,” he said.
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 Ali Jehangir Siddiqui, Chairman Board of Investment Zubair Haider Gilani and senior officials were present during the meeting.
The delegation from Hutchison Ports included Andy Tsoi, Managing Director Middle East and Africa, Eric Ng, Business Director Middle East and Africa and the leadership of their Pakistan management team.