Maersk to invest $2 billion in Pakistan’s ports and transport infrastructure: Minister
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What could be termed an important development in the naval and logistics sector, the world’s largest shipping company, Maersk, has signed an agreement with a Pakistani firm, Secure Logistics Group, under which, as per Federal Minister for Maritime Affairs Qaiser Sheikh, the company will invest $2 billion in the country’s ports and transport infrastructure during the next two years, reported 24NewsHD TV channel on Tuesday.
The Group has written a letter to the Pakistan Stock Exchange (PSX) in which it has informed it of the development.
Last month, the Maersk had made the Secure Logistics Group a partner in logistics.
Under the new arrangement, the latter would provide the former with transport services.
The minister has said that Maersk is optimistic that its investment will help improve Pakistan’s economy. “The investment has been made possible due to the efforts made by the Special Investment Facilitation Council (SIFC).”
Reporter: Ashraf Khan