Pakistan Dubai sign over $3bn investment pact for railways port development

Pakistan and Dubai recently agreed to work together on projects worth more than $3 billion. They will collaborate in areas like railways, and economic zones, and build things like roads and ports.

The deal was signed during a meeting at the World Economic Forum in Davos. Shahid Ashraf Tarar from Pakistan and Sultan Ahmed bin Sulayem from Dubai signed the agreement.

They plan to do things like creating a special path for carrying goods, building a place for different types of transportation, and terminals for loading and unloading goods. Dubai’s DP World will help with the development of the Qasim International Container Terminal, which is an important place for trade in Pakistan. They also want to make an area near the terminal for businesses to set up.

The two countries will work together on improving their relationship in areas like shipping and transportation. They might build a special path for carrying goods and create a zone for businesses near the city of Karachi.

The DP World will act on behalf of Dubai, and Pakistan Railways and Port Qasim Authority will work for Pakistan in these projects. The new path for carrying goods will go from Karachi to a place called Pipri Marshalling Yard, making transportation better and safer.

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Pakistan Railways takes care of the trains in the country, covering a distance of about 8,000 kilometers. They also made a deal with Pakistan’s Ministry of Maritime Affairs to make the waterway at Qasim International Container Terminal deeper, so bigger ships can come.

Pakistan Dubai sign over $3bn investment pact for railways port development

The DP World will do the deepening of the waterway on behalf of Dubai. This agreement also means they will create an area for businesses at Port Qasim, hoping to get more than $3 billion in investments from other countries.

At the signing event, Minister Tarar said that DP World has been working in Pakistan for a long time, and now they are taking their partnership to a new level. He also mentioned that these projects are essential for Pakistan to connect with other parts of Asia and get economic benefits.

Sulayem, the Chairman from Dubai, mentioned that Pakistan is an important place for trade, and they are happy to help with projects that will benefit the people of Pakistan. He said they want to work together to improve transportation and create more opportunities for businesses.

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