Abu Dhabi group signs 50 year investment on Karachi port

Abu Dhabi ( UAE Updates – Arshad Farooq )

In the midst of Pakistan’s economic crisis, a major development came when Abu Dhabi’s ‘AD Ports’ group announced a major investment on karachi port.

The Abu Dhabi Group has signed a 50-year deal with Karachi Port Trust under which the group will develop a terminal at Karachi Port.

Apart from this, the group will also invest for rail connectivity between Karachi Port and Port Qasim and a Special Economic Zone will also be constructed under the same project.

According to the official announcement, the Abu Dhabi Group will invest two billion dollars for the project, the most prominent of which is the construction of the Karachi Gateway Terminal Limited.

This investment by the Abu Dhabi Group in Pakistan’s shipping and ports sector and the signing of the agreement comes at a time when Pakistan is facing a financial crisis.