Dubai companies line up mega-projects in Pakistan
May 4, 2006
ISLAMABAD (Reuters) - State-owned Dubai World is in talks with Pakistan to develop major infrastructure projects and manage a port earmarked to become a hub for trade between the Gulf, China and Central Asia, officials said on Thursday.
A news release issued by Dubai World quoted Pakistan's President Pervez Musharraf saying the proposed deal would bolster Pakistan's historically strong ties with Dubai and the United Arab Emirates.
Dubai World, a state holding company, said it was looking for involvement in industrial and public sector infrastructure, including oil and gas related projects, airports and port terminal management, along with industrial parks and free zones.
Dubai Ports World and real estate developer Nakheel are the two Dubai World group companies that will lead the ventures in Pakistan.
Mohammad Sharaf, chief executive officer of Dubai Ports told a news conference in Islamabad that the company was seeking management of Gwadar, an Arabian Sea port on the coast of Pakistan's troubled southwestern province of Baluchistan, for up to 50 years.
"We intend to grow in this market... In ports, transport and logistics. We believe there are great opportunities here," Sultan Ahmed bin Sulayem, chairman of both Dubai Ports and Nakheel, told the news conference.
Pakistan's junior minister for investment, Umar Ghuman, said the government was also planning to build five new cities as part of its grand project to develop the region.
May 4, 2006
ISLAMABAD (Reuters) - State-owned Dubai World is in talks with Pakistan to develop major infrastructure projects and manage a port earmarked to become a hub for trade between the Gulf, China and Central Asia, officials said on Thursday.
A news release issued by Dubai World quoted Pakistan's President Pervez Musharraf saying the proposed deal would bolster Pakistan's historically strong ties with Dubai and the United Arab Emirates.
Dubai World, a state holding company, said it was looking for involvement in industrial and public sector infrastructure, including oil and gas related projects, airports and port terminal management, along with industrial parks and free zones.
Dubai Ports World and real estate developer Nakheel are the two Dubai World group companies that will lead the ventures in Pakistan.
Mohammad Sharaf, chief executive officer of Dubai Ports told a news conference in Islamabad that the company was seeking management of Gwadar, an Arabian Sea port on the coast of Pakistan's troubled southwestern province of Baluchistan, for up to 50 years.
"We intend to grow in this market... In ports, transport and logistics. We believe there are great opportunities here," Sultan Ahmed bin Sulayem, chairman of both Dubai Ports and Nakheel, told the news conference.
Pakistan's junior minister for investment, Umar Ghuman, said the government was also planning to build five new cities as part of its grand project to develop the region.