Real Time Search
CES A80 :
CES HKMI :
CES 120 :
Total Turn.

Hutchison Ports Commences Port Expansion Project in Pakistan with US$240 Million, Bringing Total Investment in the Country to US$1 Billion

2019-10-16 14:57:00

HONG KONG, Oct. 16, 2019 /PRNewswire/ -- Imran Khan, Prime Minister of Pakistan met Eric Ip, Group Managing Director of Hutchison Ports, along with Ambassador at Large for Foreign Investment Mr. Ali Jehangir Siddiqui, yesterday at Prime Minister House.

Imran Khan, Prime Minister of Pakistan (centre) met Eric Ip, Group Managing Director of Hutchison Ports (fourth from left) at Prime Minister House.
Imran Khan, Prime Minister of Pakistan (centre) met Eric Ip, Group Managing Director of Hutchison Ports (fourth from left) at Prime Minister House.

Mr. Ip expressed his appreciation of the meeting with the Prime Minister and presented Hutchison Ports' global network of 52 ports, including the operations in Karachi for over 20 years. He took this opportunity to confirm to the Prime Minister the commencement of construction of the second phase of Pakistan Deep Water Container Port project with US$240 million of new investment and achieve a handling capacity of 3.2 million TEU upon completion.

Mr. Ip further added that Hutchison Ports' total investment (including KICT) in Pakistan will reach 150 billion PKR (approx. US$1 billion), providing direct employment to over 3,000 staff and supporting thousands working in the ports and shipping sector. Most of all, the terminals contribute over 15 billion PKR (over US$96 million) annually to the government in the form of taxes and concession fees.

Moreover, Mr. Ip highlighted the technologies and industrial best practices that Hutchison Ports has introduced to the country. The most recent establishment of a Regional Operations Centre was first created in the group to provide ship planning function for Hutchison Ports' operations in the Far East, offering local staff with valuable opportunity to engage with high-level international training and overseas experience. The deployment of state-of-the-art technologies such as the remote-controlled ship-to-shore cranes and semi-automated yard cranes were first introduced to the country's port industry.

Mr. Ip reiterated Hutchison Ports' commitment to Pakistan and how it has been playing a pivotal role in facilitating the economic growth of the country, as well as supporting the development of Karachi Port into a major hub for trade and transport in Asia.

The meeting was attended by Minister for Maritime Affairs Mr. Syed Ali Haider Zaidi, Minister for Commerce Mr. Abdul Razzak Dawood, Minister of State for Overseas Pakistanis and Human Resource Development Mr. Syed Zulfiqar Abbas Bukhari and Chairman BOI Mr. Zubair Gilani.

Mr. Ip was accompanied by Mr. Andy Tsoi, Managing Director Middle East & Africa and other senior executives of Hutchison Ports.

About Hutchison Ports

Hutchison Ports is the port and related services division of CK Hutchison Holdings Limited (CK Hutchison). Hutchison Ports is the world's leading port investor, developer and operator with a network of port operations in 52 ports spanning 27 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia. Over the years, Hutchison Ports has expanded into other logistics and transportation-related businesses, including cruise ship terminals, airport operations, distribution centres, rail services and ship repair facilities.

In 2018, Hutchison Ports handled a combined throughput of 84.6 million TEU.

Photo - https://photos.prnasia.com/prnh/20191016/2612560-1?lang=0

Link

PR Newswire News

2019-11-14
06:00:00
International Diabetes Federation: Latest Figures Show 463 Million People Now Living With Diabetes Worldwide as Numbers Continue to Rise
06:00:00
Blockchain Technology Empowers SMEs to Grow and Go Global
04:00:00
International Peacemaker Professor Padraig O'Malley Receives Prestigious Henley & Partners Global Citizen Award
01:47:00
Chubb appoints Jason Keen as Division President, Chubb Global Markets
2019-11-13
20:54:00
Tencent Announces 2019 Third Quarter Results
20:14:00
AGTech Announces Third Quarterly Results For the Nine Months Ended September 30, 2019
19:37:00
Crypto.com Partners With Xfers
19:35:00
Credit/Debit Card Top-Up for Singapore MCO Visa Card is Now Available
19:34:00
Vakrangee Q2FY2019-20 Financial Results
19:31:00
Suning Sets New Singles' Day Record with Omni-Channel Orders Increasing by 76%
19:20:00
Prime Minister of the Republic of Singapore Intrigued by WeBank's Fintech-powered Services at SFF x SWITCH
18:43:00
Paradise Entertainment Makes a Glamorous Appearance at Macau Gaming Show 2019 Driving Innovation and Technology to the Electronic Gaming Industry
17:24:00
United Kingdom's Unicorn unveils blockchain services for all industries
13:00:00
Tokyo International Film Festival Reveals Diverse Lineup of Award Winners, Including Iranian Director Reza Jamali's "Old Men Never Die"
08:24:00
IMAX China Names Edwin Tan Chief Executive Officer
08:23:00
Home Control International Limited Announces Share Offer Allotment Results
2019-11-12
23:30:00
The French Tennis Federation (FFT) selects Wilson Sporting Goods as an Official Partner of Roland-Garros and of the FFT
23:19:00
TRACE Releases 2019 Bribery Risk Matrix, Launches Bribery Risk Typology
22:07:00
Parallel Wireless Helps to Deliver on MTN's OpenRAN Vision across Africa
21:43:00
Crypto.com Lists Chiliz (CHZ)
Back to Top