Pakistan has signed a memorandum of understanding with Saudi and local partners to explore development of a maritime business district on prime Karachi Port Trust waterfront land.
According to an official information today, Federal Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry, in a statement, said the MoU was signed between KPT, Saudi Business Council-NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited and the Pakistan Corporate Consortium.
The proposed project would be built on a 140-acre KPT site on MT Khan Road, Karachi, and is intended to transform the area into a major commercial and maritime hub.