Karachi Port Trust signs MoU for development of Maritime Business District

The Karachi Port Trust (KPT) on Saturday signed a Memorandum of Understanding (MoU) for the development of a world-class Maritime Business District on 140 acres of coastal land in Karachi, marking a significant step toward transforming the country's maritime and economic landscape.

Under the agreement, KPT entered into a partnership with the Saudi Business Council–Najd Gateway Holding Company, Arif Habib Dolman Rate Management Limited, and the Pakistan Corporate Consortium. The MoU was signed during the visit of a high-level delegation of the Saudi Pakistan Joint Business Council to Pakistan.

The project, being undertaken under the auspices of the Special Investment Facilitation Council (SIFC), is aimed at enhancing the value of KPT’s assets while promoting both domestic and foreign investment. The proposed Maritime Business District is expected to help position Karachi as a modern global hub for business, trade and economic activities.

Federal Minister for Maritime Affairs Junaid Anwar Chaudhry announced the establishment of the modern maritime business district at Karachi Port Trust, describing the agreement as a historic milestone.

Speaking on the occasion, Chaudhry said the project would create vast investment and employment opportunities across the country. He added that the initiative is aimed at making Pakistan a regional maritime trade and investment hub and would provide new momentum to the country's blue economy.

The minister emphasized that all legal and administrative requirements would be fulfilled to ensure the successful implementation of the project. He noted that execution of the project would remain subject to compliance with all Pakistani laws and regulatory requirements.

During the visit, the Saudi delegation expressed strong interest in expanding cooperation between Pakistan and Saudi Arabia in the maritime sector. The visiting investors particularly focused on opportunities related to Karachi Port Trust, port operations, infrastructure, and the logistics sector.

Officials said the landmark project reflects growing economic collaboration between Pakistan and Saudi Arabia and is expected to contribute significantly to the development of Pakistan’s maritime industry and investment environment.