Maersk, a leading Danish shipping company, has announced a substantial investment of $2 billion in Pakistan's port and transport infrastructure over the next two years. This initiative, reported by the state news agency, is expected to significantly enhance the country's infrastructure and boost economic development.

To formalize this commitment, Minister for Maritime Affairs Qaiser Ahmed Sheikh will be traveling to Denmark later this month to sign a Memorandum of Understanding (MoU) between Maersk Shipping Company and Karachi Port Trust.

Commenting on the development, Qaiser Ahmed Sheikh highlighted Karachi’s potential to increase exports, noting that the Ministry of Maritime Affairs is working to create a favorable business environment for the country’s trade community.

In related news, last month, Khurram Aziz Khan, CEO of Abu Dhabi Ports Pakistan, announced a $250 million investment in Karachi Port over the next decade. During a meeting with Prime Minister Shehbaz Sharif, Khan and his delegation outlined plans for a $130 million investment in a multipurpose terminal at Karachi Port, expected to be completed within two years. The upgrade will include automated gates, an expanded berth, a crane rail track, and other essential infrastructure improvements.