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The government of Dubai has signed two investment framework agreements worth USD 3 bn with Pakistan to cooperate on railways, economic zones and infrastructure, according to a statement by Pakistan Railways Chairman Syed Mazhar Ali Shah.
The details: The agreements cover the development of a dedicated rail-based freight corridor, multi-modal logistics park, and freight terminals, according to the statement. Infrastructure improvement at Pakistan’s Qasim International Container Terminal will be carried out and an economic zone near the terminal will be developed at Port Qasim.
Who is doing what: DP World will serve as a developer on behalf of the Dubai government, and Pakistan Railways and Port Qasim Authority will work on behalf of the Pakistan government, the statement notes.
More about the freight corridor: A 50 km rail-based dedicated freight corridor will run from Karachi Port to the Pipri Marshalling Yard, passing through Karachi, in a bid to improve efficiency, transport times and reduce the overall cost of logistics, the statement notes.
And the new economic zone: DP World will develop a new economic zone at Port Qasim in a bid to attract some USD 3 bn investments, the statement notes. As part of the agreement, DP World will also carry out dredging to improve Qasim International Container Terminal’s infrastructure.
The UAE ♥️ Pakistan: The government also agreed to roll over two USD 1 bn deposits owed by Pakistan for a second year this week, and inked a slew of MoUs for investments in logistics and port operations last November.
IN OTHER DP WORLD NEWS- The company inked a MoU with Pakistani investment conglomerate JW Holdings to develop trade and logistics infrastructure in Pakistan, Pakistan’s Industries and Production Minister Gohar Ejaz said on X. No details regarding the investment ticket or a project timeline were disclosed.
Details: The pair will collaborate to develop and operate special economic zones, logistics parks, and other infrastructure. The move looks to improve logistics and industrial competitiveness, attract investments, and create jobs, Ejaz said.
