Hutchison Ports to increase investment to over $600mn

KARACHI: Hutchison Ports Pakistan has announced an additional investment of $240 million, with their overall investment exceeding $600 million.

Briefing on the progress on the progress of Phase-II of the Hutchison Port’s terminal, Hutchison Ports General Manager and Head of Business Unit of Pakistan Syed Rashid Jamil also informed that the company will increase the installed capacity of up to 3.2 million TEUs by 2022 to cater to the containerised cargo at the terminal located at the Karachi Port.

To finalise the deal, a delegation led by Group Managing Director Eric Ip of the Hutchison Port had met Prime Minister Imran Khan in mid-October.

Phase-II of the Hutchison Ports’ terminal is scheduled to be completed in 2021, while additional equipment would be installed by 2022. The terminal will be equipped with remote-controlled ship-to-shore cranes and semi-automated yard cranes.

Furthermore, three internal railway tracks connecting the terminal to the main lines in a public-private partnership with Pakistan Railways will also be developed in the second phase.

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