PQA eyes $1.4-bn FDI in its industrial zone

Karachi: The Port Qasim Authority (PQA) has said that it is expecting $1.4 billion foreign direct investment (FDI) in its 12,000 acres vast industrial zone in various sectors, including chemical, automobile, fertiliser, warehousing, etc, in near future.

This was stated by PQA Chairman Afsar Din Talpur while inaugurating the office of Port Qasim Association of Trade and Industry (PQATI) at PQA. The PQA chief also administered oath to the newly elected members of PQATI managing committee for 2009 at conference hall in Chairman Secretariat.

'In terms of FDI, around $1.4 billion has come to PQATI in the fields of chemical, automobile, fertiliser and for establishing warehousing facilities, etc,' he told media persons while presiding over a networking session with the new managers of PQATI. He said that four projects, Liquid Cargo Terminal, Qasim International Container Termi-nal-II, Grain and Fertiliser Terminal and Coal and Clinker Terminal were fast nearing completion and would be made fully operational by 2010.

The four projects, he said, would be undertaken at an investment of $35 million, $250 million, $100 million and $173 million respectively. He said the Authority had a vision to double the number of berths at Port Qasim by 2011, which would increase the capacity of the port manifold.

According to Talpur, at present some 340 industrial units are either running or are under construction in PQATI, which have the potential to accommodate 3,500 in the days to come. Referring to a well-drafted Master Plan of PQA, he said it was only two years back when the number of industries in PQATI was 52 only. He assured the newly sworn in Port Qasim Association of Trade and Industry (PQATI) chairman, Muhammad Ahmed, who had earlier presented his demands including water shortage, road construction and maintenance and sewerage line at NWIZ, of appropriate measures for resolution of the industrialists' problems.

Earlier, PQATI Patron-in-Chief, Naeem Ilyas Khanani, PQATI chairman Muhammad Ahmed and Vice Chairman Usman Ahmed also spoke and vowed to fulfil their obligations sincerely. Port Qasim Association of Trade and Industry (PQATI) officials and PQA chairman also exchanged shields and flowers.