Pakistan and China are discussing plans to construct a maritime industrial complex at Port Qasim worth $2.2 billion on Thursday, as Islamabad is planning to modernize and upgrade its port facilities to position itself as a regional trade and logistic hub. A government statement issued on Thursday is read.
The proposal comes as Pakistan is looking to upgrade its port infrastructure to handle high trade volumes and improve connectivity between sea and landlocked Central Asian states. Pakistan wants to benefit from its geographic position which lies at the crossroads of South and Central Asia. The efforts are in consonance with the multi-billion dollar project, the China-Pakistan Economic Corridor also known as CPEC, which has boosted Chinese investment in Pakistan’s energy, transport, and infrastructure sectors. The investment is aiming to boost Pakistan’s regional connectivity.
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The project was discussed during a meeting between a delegation from China’s Xinjiao Group and Pakistan’s Minister for Maritime Affairs, Junaid Anwar Chaudhary, according to the statement. Chaudhary said the project under discussion could include the establishment of ship-building and ship-breaking facilities as well as a modern port-linked steel mill aimed at reducing Pakistan’s reliance on imported steel. He added that the revival of the steel jetty at Port Qasim would be essential for the viability of the project.
The minister said that the project will also create employment, will add value, and will also take in consideration the environmental concerns as part of the proposal which if the investment is approved, it could rank among Pakistan’s largest industrial projects. Pakistan has in recent months stepped up its efforts to upgrade its port operations, including the introduction of artificial intelligence-based technologies to improve efficiency and reduce congestion, speed up cargo handling.
Recently, Pakistan’s Minister of Railways and Minister and Maritime Affairs Minister met to discuss plans to establish a railway station and modern storage facilities at Port Qasim that will improve logistics and cargo movement to and from the port.