UAE Eyes Investment in Pakistan’s Sindh Desalination, Transport, and Construction
UAE strengthens ties with Pakistan through major investments in Karachi’s infrastructure and economic sectors
UAE to Invest in Karachi Desalination, Transport, and Construction Projects
KARACHI: The United Arab Emirates is keen to invest in a desalination plant, transport and construction projects in the port city of Karachi, a spokesman for the chief minister of Pakistan’s southern Sindh province said on Thursday.
The announcement came after a meeting between Chief Minister Murad Ali Shah and the UAE Consul General in Karachi, Bakhit Adiq Al Rimithki, on the occasion of Emirates National Day.
According to the UAE Ministry of Foreign Affairs, the UAE is one of Pakistan’s largest trading partners and a major source of foreign investment, amounting to more than $10 billion over the past 20 years. UAE-Pakistan trade volume is projected to increase by 12 percent from 2022 to $7.9 billion in 2023.
“Investment by UAE companies in various projects in Karachi was also discussed,” the chief minister’s office said. “UAE companies are keen to invest in Karachi’s desalination plant, transport and road and bridge construction sectors.”
The spokesman said Shah was also arranging meetings between the provincial investment department and relevant officials from the UAE.
In May this year, Prime Minister Shehbaz said that the United Arab Emirates has pledged $10 billion to invest in promising economic sectors in Pakistan.
Earlier this month, Pakistan signed four MoUs with major Pakistani investor AD Ports Group to explore opportunities in maritime, aviation and rail sectors as well as logistics and digital services.
Along with UAE partner Kaheel Terminals, AD Ports Group already develops, operates and manages container, bulk and general cargo operations at Pakistan’s main port of Karachi, where it has agreed to invest nearly $400 million over 15 years.
The joint venture has agreed to invest $75 million in infrastructure and equipment over the next two years, followed by $100 million over five years to increase efficiency and capacity by 75 percent, enabling the terminal to handle up to 14 million tons a year.
Pakistan has been pushing for foreign investment in recent months in an effort to boost its $350 billion economy, leading a tough reform agenda mandated by the International Monetary Fund (IMF).
