ISLAMABAD: Hong Kong conglomerate CK Hutchison Holdings Limited’s ports subsidiary plans to invest $1 billion to upgrade its operations in Pakistan, its Finance Ministry said on Friday.
“Hutchison Ports presented their upcoming investment plan of $1 billion, aimed at upgrading their existing terminals to enhance operational efficiency, logistics connectivity, and automation,” the ministry said in a statement.
No timeframe was provided for the proposed investment.
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The investment is expected to generate at least $4 billion in revenue over the next 25 years through royalty, rent, and tax contributions, the statement said, citing a Hutchison Ports delegation.
The announcement followed a meeting between Finance and Revenue Minister Senator Muhammad Aurangzeb and senior executives from Hutchison Ports.
The company has been operating two major terminals in Pakistan over a 25-year period, and has contributed more than 225 billion Pakistani rupees ($805.01 million) in government revenue, the statement said.
The planned investment would automate Hutchison’s services in the southern city of Karachi, where it operates a deep-water container terminal, and improve roads and parking facilities to ease cargo movement.
Pakistan has been trying to attract foreign investment to shore up its low reserves and kick-start its flagging economy.
Ports were identified as one of the infrastructure developments considered vital to draw investment into Pakistan by the head of the World Bank’s investment arm earlier this month in an interview with Reuters. Reuters
Press release adds: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with a high-level delegation from Hutchison Ports, led by Andy Tsoi, Managing Director, Middle East & Africa Division. The delegation included Changsu Kim, CEO, South Asia Pakistan Terminal, Navaid Qureshi, CEO, Karachi International Container Terminal, and Taimur Khan Afridi, Head of Government Relations, Hutchison Ports Pakistan.
The delegation briefed the Minister on 25-year presence of Hutchison Ports in Pakistan, where they have been operating two key terminals—HPKICT and HPSAPT. Over this period, the company has contributed more than Rs 225 billion in government revenues and has provided employment to a workforce of 5,000 individuals.
During the meeting, Hutchison Ports presented their upcoming investment plan of USD 1 billion, aimed at upgrading their existing terminals to enhance operational efficiency, logistics connectivity, and automation. The investment includes infrastructure development, road improvements to facilitate efficient cargo movement, modernization of HPKICT into a cutting-edge automated terminal, and the development of a 52-hectare logistics park to enhance trade connectivity. Additionally, automation upgrades will include remote quay cranes, automated RTGs, electric trucks, and digitalized gate operations, alongside training programs for maritime professionals in port operations, management, and AI applications.
The delegation highlighted that their investment is expected to generate at least USD 4 billion in revenue over the next 25 years through royalty, rent, and tax contributions.
The Finance Minister appreciated Hutchison Ports’ commitment to Pakistan’s maritime sector and acknowledged their significant role in boosting trade and economic activity. He assured them that the government remains committed to fostering a business-friendly environment to attract foreign investment. He reaffirmed the government’s support for strategic investments that contribute to Pakistan’s economic growth and infrastructure development.
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