Pakistan has formally presented its maritime sector to Saudi Arabian investors as a major venue for bilateral collaboration, highlighting a diverse array of high-value projects. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry outlined these prospects during an online session, showcasing initiatives that span commercial ports, logistics hubs, blue economy ventures, and critical coastal infrastructure. The virtual discussion was conducted with Mansour Bin Mohammed Al Saud, who serves as the Chairman of the Pakistan-Saudi Arabia Joint Business Council, and centered on strengthening maritime cooperation and expanding economic ties between the two nations.
During the meeting, the federal minister emphasized that the ministry observes massive scope for mutual growth that aligns directly with the strategic goals of Saudi Arabia’s Vision 2030 as well as the national development priorities of Pakistan. He noted that the historic ties between the two countries are steadily transforming into a robust economic and strategic partnership. The high-level digital conference saw active participation from the administrative heads of all major domestic ports, the chief executive officer of the Pakistan National Shipping Corporation, the managing director of the Korangi Fish Harbour Authority, delegates from the Special Investment Facilitation Council, and Pakistan’s ambassador stationed in Saudi Arabia.
The participants went into deep operational details regarding specific investment openings located at Karachi Port, Port Qasim, Gwadar Port, alongside the national shipping line and fish harbor facilities. Saudi investors received an official invitation to explore structural joint ventures within a newly proposed maritime business district, a specialized marine workshop project, and the setup of both a drydock and a floating dock facility at Manora under the administrative umbrella of the Karachi Port Trust. While briefing the council, Karachi Port Trust Chairman Rear Admiral Retired Shahid Ahmed shed light on the commercial viability of the maritime business district project, which is scheduled to span 140 acres of prime coastal urban land.
Turning the focus toward Port Qasim, the official presentation highlighted several distinct prospects including the development of a multipurpose cargo terminal, an integrated second oil terminal equipped with a dedicated storage farm, and a specialized energy city development project. Port Qasim Authority Chairman Rear Admiral Retired Syed Moazzam Ilyas explained to the international attendees that the integrated second oil terminal and its accompanying storage farm are intended to be executed on a build-operate-transfer financial framework. This structure allows foreign developers to build and run the facility for a set duration before handing it back to the state.
To conclude the detailed economic pitch, the maritime minister invited direct Saudi capital injection to fund the ongoing expansion of the Pakistan National Shipping Corporation commercial fleet. Furthermore, the state extended an invitation for the establishment of an ambitious Aqua Research and Technology Park, planned to occupy roughly 100 acres of land under the jurisdiction of the Korangi Fish Harbour Authority. This technological park is envisioned to modernize the local aquaculture and fisheries setup, introducing global standards to the coastal production capabilities of Pakistan.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.