A German company interested in upgrading and expanding an iron ore coal berth at Bin Qasim is planning to invest $40 million over a 5-year-period.
A delegation of the German company met with the Federal Minister for Industries & Production Ghulam Murtaza Jatoi on Wednesday and gave him a detailed briefing on their proposal.
The proposal stated the company’s interest in the management, rehabilitation, maintenance and repair of the jetty at Bin Qasim, and its plan to invest $40 million over an initial period of 5 years.
The investment would increase the offloading capacity at the berth and would also shorten the supply time from the berth to the steel mills which would therefore substantially reduce the cost of imported coal.
While talking to the delegation, Jatoi said that the current government was making resolute efforts to bring foreign investment to Pakistan, therefore, every proposal was welcomed and thoroughly discussed.