Hong Kong-based Company to Invest USD 240 Million in Karachi Port

Islamabad [Pakistan], Oct 16 (ANI): A Hong-Kong based port operator has committed an investment of USD 240 million for the development of Pakistan's Karachi port.The investment by Hutchison Port Holdings would make available a significant amount of new container terminal capacity at Karachi Port and raise the company's total investment in Pakistan to USD 1 billion. In addition, it would help take the number of Hutchison employees in the country to 3,000, reported The Express Tribune.The decision in this regard was taken during a meeting between a delegation of the company, led by its Group Managing Director Eric Ip, and Pakistan Prime Minister Imran Khan on Tuesday.Khan has welcomed the investment and its commitment to support Pakistan's economic prosperity.Hutchison Port Holdings is one of the world's largest port companies with over 30,000 employees and operates 52 ports and terminals in 27 countries across Asia, Middle East, Africa, Europe, the Americas and Australia. The company is headquartered in Hong Kong. (ANI)

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)