Hong Kong company will invest $ 24 million to develop Karachi port

Islamabad, Ta. Wednesday 16 October 2019

A Hong Kong company has come forward to develop another Pakistani port after China. In fact, a Hong Kong company has pledged $ 100 million to develop the Karachi port of Pakistan.

Currently China is developing Pakistan's Gwadar port and China's support to Pakistan in political, business matters A Hong Kong-based company has committed to investing $ 24 million to develop the Karachi port of Pakistan.

The investing company 'Hutchinson Port Holdings' is headquartered in Hong Kong. A meeting of the company's delegation, led by Pakistan's Prime Minister Imran Khan and the group's managing director Eric Ip, was held on Tuesday. In which this decision was made.

Following such action, the number of Hutchinson's staff in the country will increase to 3000 and after this investment, the capacity of new containers to be kept at Karachi port will increase. Pakistani Prime Minister Imran Khan expressed his happiness over this investment. Hutchinson Port Holdings is one of the largest port companies in the world.

About 30,000 employees work in the company and it manages 7 ports and terminals in 27 countries in Asia and the Middle East. Earlier, China had begun work on developing Pakistan's Gwadar port.

Pakistan has received enormous support from China in political and business matters. China, which is tasked with developing the Gwadar port in Pakistan, claims to make the port bigger than the Karachi port.