PAKISTAN: Plans to establish a dedicated rail freight corridor and economic zone near Karachi are included in two inter-governmental framework agreements signed by the governments of Pakistan and Dubai on January 17.
The agreements cover plans for US$3bn+ of investment in railways, economic zones and infrastructure. DP World will act on behalf of Dubai, while Pakistan Railways and Port Qasim Authority will act on behalf of Pakistan.
The proposed Dedicated Freight Corridor would run 50 km from Karachi Port, through Karachi, Pakistan’s most populous city, to the Pipri marshalling yard.
The aim is to decongest Karachi, improve road safety, significantly increase efficiency and reduce transport times and costs.
A second framework agreement covers dredging of the navigation channel and the development of an economic zone at Port Qasim.
‘The signing of investment framework agreements highlights the importance of Pakistan as gateway to Asia and commercial dividends associated with its strategic location’, said Shahid Ashraf Tarar, Federal Minister of Communication, Railways & Maritime Affairs.
