Hutchison Ports commences a port expansion project in Karachi Port, Pakistan with US$240 million, thus bringing total investment in the country to US$1 billion.
Eric Ip, Group Managing Director of Hutchison Ports confirmed the commencement of construction of the second phase of Pakistan Deep Water Container Port project to achieve a handling capacity of 3.2 million TEU upon completion.
With this new investment, Ip added that Hutchison Ports’ total investment in Pakistan will reach US$1 billion, providing direct employment to over 3,000 staff and supporting thousands working in the ports and shipping sector. The terminals contribute over US$96 million annually to the government in the form of taxes and concession fees.
Ip also highlighted the technologies and industrial best practices that Hutchison Ports has introduced to the country.
- Establishment of a Regional Operations Centre to provide ship planning function for Hutchison Ports’ operations in the Far East.
- Deployment of technologies such as remote-controlled ship-to-shore cranes and semi-automated yard cranes.
Ip reiterated Hutchison Ports’ commitment to Pakistan. 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.
Hutchison Ports is the port and related services division of CK Hutchison. It 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.
Recently, the company achieved a cumulative global throughput of 1.3 billion TEU, the world’s first operator to have achieved such a milestone.