Pakistan, Saudi Arabia, and native companions have signed a memorandum of understanding (MoU) to discover the event of a maritime enterprise district at Karachi Port Belief (KPT) waterfront land. The Ministry of Maritime Affairs introduced this settlement on Saturday.
Maritime Affairs Minister Junaid Anwar Chaudhry mentioned the deal was signed between Karachi Port Belief, Saudi Enterprise Council Najd Gateway Holding Firm, Arif Habib Dolmen REIT Administration Restricted (AHDRML), and the Pakistan Company Consortium. He mentioned the settlement goals to show the world into a significant industrial and maritime hub.
The challenge is deliberate on 140 acres of land at Karachi Port Belief alongside MT Khan Highway. Officers mentioned the positioning can be developed into a contemporary enterprise zone. It would embrace industrial buildings and different infrastructure to draw funding and assist financial exercise.
The minister mentioned the challenge will create jobs and assist enhance city growth in Karachi. He added that it’ll additionally open new alternatives for commerce and funding within the maritime sector. He described the plan as an vital step to make use of Pakistan’s coastal property extra successfully. Chaudhry mentioned all authorized and regulatory guidelines beneath Pakistani legislation can be adopted earlier than work begins. He additionally mentioned the federal government will guarantee transparency at each stage of the challenge.
In accordance with the ministry, Saudi delegates confirmed sturdy curiosity in increasing cooperation in ports and maritime infrastructure. Additionally they mentioned potential funding in logistics and associated growth tasks.
Officers mentioned the settlement is a part of wider efforts by Pakistan and Saudi Arabia to strengthen financial relations. Either side are alternatives in commerce, transport, ports, and infrastructure growth.
Historic MoU Signed for Improvement of a World-Class Maritime Enterprise District at Karachi Port Belief
KPT has entered right into a Memorandum of Understanding (MoU) with Saudi Enterprise Council–NAJD Gateway Holding Firm, Arif Habib Dolmen REIT Administration Restricted (AHDRML) and the… pic.twitter.com/R2NUZ1ZyhO
— Karachi Port Belief Official (@official_kpt) June 6, 2026
The minister mentioned the challenge might grow to be one of many largest water entrance developments within the area, relying on approvals. He added that the plan continues to be within the early stage and can transfer ahead after clearance from authorities. Earlier, the ministry had invited proposals for the event of the identical 140 acre website. It steered a three way partnership mannequin the place Karachi Port Belief would act as a accomplice within the challenge.
Chaudhry additionally shared plans to increase the Pakistan Nationwide Transport Company fleet by 50%. He mentioned the aim of accelerating the fleet to 30 ships ought to now be achieved in a shorter time than initially deliberate.
