Hutchison signs $1 billion investment agreement with KPT
With the state of emergency in effect and the ensuing politics, protests and activism taking over the major share of news mediums, the news of Hutchison Port Holdings Limited (HPH) signing a billion dollar deal with Karachi Port Trust almost slipped our attention. And it seems that it actually has slipped Geo TV’s attention since their international transmission has not reported it yet.
The investment has been made in the Pakistan Deep Water Container Port Project (PDWCP). Karachi New Port Container Terminals, the newly established joint-venture company, will build and manage the new container-handling facility over a concession period of 25 years, extendible for another 25 years. The new terminal is expected to be operational in 2011. Upon completion, Karachi New Port Container Terminals will have four berths with a total quay length of 1,500 metres, a yard area of 85 hectares and depths alongside up to 18 metres.
Hutchison Port Holdings (HPH), is a subsidiary of the multinational conglomerate Hutchison Whampoa Limited (HWL), is the world’s leading port investor, developer and operator with interests in a total of 262 berths in 46 ports, spanning 23 countries throughout Asia, the Middle East, Africa, Europe and the Americas.
Source: News release
Investment IN KARACHI!!!! oops!
One more reason for PUNJABISTAN to overthrow Musharraf.
A prosperous and peaceful KARACHI??? The horrors!!!
~ VIVA KARACHI! ~
Very good news indeed. I hope this materializes and they invest the amount that has been decided.
As far as the news channels are concerned, I believe the news channels (specially AAJ, and GEO) are more interested in publishing news (read “masala-tized news”) about the suicide bombings, killings, etc which attract masses (both literate and illiterate); very few people are interested in reading/listening news about the foreign investment.
Foreign Investment might be coming in through one door but leaving through the same.
http://dawn.com/2007/11/09/top6.htm
Overseas investors pull $235m from KSE
While foreign investments in projects like PTCL, or KESC hasn’t made life better for the ordinary karachi citizen by any means, such volatility that exists in the stock exchange due to the lax policies by the government (such as no capital gains tax etc), hurts the retail investor and leaves a large number of people virtually bankrupt.
Even mutual funds investors will be hurt by this move as values of all securities will come tumbling down. This is a major crisis for the financial sector.
excellent
This deal was in papers when CJ circus was ON even at that time everyone was showing what is purely about encashing more & more, from who ever pay the right price.
GEO & AAJ – how truly said, they are more into masala and blood, not about PROGRESS.
On report of this on this blog ANTI-Karachi elements will start bragging about MQM and Minister BKG etc etc, instead of appreciating what will bring more jobs to Karachi.
Those who wish to see students on roads, are more UNEDUCATED then who are going to schools and wish to maintain a distance from nuisance of opportunists.
– I graduated from high school in a period when academic year was of 5 months only and sessions were running on ‘ 3 ‘ years delay & after intermediate the mandatory wait for admission at a prof college university was 14 – 16 months.
and all behind the regular schedules. does someone wish to see this again, only because The FAUJI is from urdu speaking background???? –
Remember as i earlier stated – Once a Fauji always a Fauji the only color he recognise is Khaki, and the only language he speak & understand is about saying YES to orders given / heard.
Period.
Great News.
Go Karachi go. Go Pakistan go.
Budnazir kay chungal say aazaad ho jaao.
mae toe saalaa shaair bun gayaa!
Shamsi: no, I don’t want to wait for one year after high school to apply to college.
Also, faujis also recognize green and surkh these days, as long as they are on currency bills!
BALMA :) BHAIE JAN :) QIBLA :)
87% of Pakistan GNP is for DEFENCE :)
13% is for supposedly Development of Country.
OK, Shamsi, if lawyers and judges were any sharif and stayed away from Budnazir types, I would have supported them against mushee. But, no…right now…all this ghunda gardi will lead to ‘aasman say giray, khajoor may aTkay’ if we are stuck with Budnazir after mushee is gone….Benazir is the worst Paksitan has produced.
OF course, I am against faujis meddling in every thing. I believe their institutionalized corruption has to end…. but these laywers, judges, budnazir…this is not a good option.
Also, this 80% etc…started with Ayub Khan when America started giving aid to PK army directly, bypassing PK govt.
staying with the topic.
HWL has had intrests in Pakistan for several years now as the controlling interest in PICT (Pak Container Terminal @ kpt) & this deal has been in the works for a while now.
As good as this would be for the economy, the jobs created would largely benefit the lowest class. i.e the un-educated & unskilled labour.
+ when we already have a Pakistani company (KICT, owned and operated by Haleem Siddiqi – An Urdu Speaking Karachitte), why was it that HWL were granted rights for a quater of a century without a proper tender and without keeping national intrests in mind??
–
ppl chanting this to be works or victory of one party: You’re part of the problem. Continue to sow seeds of racism and hatered and you will reap similar fruit.
Karchi has always been part of the entire nation of Pakistan. Its as much Urdu speaking as the rest of the people & it should be our responisbility to help in its betterment.
Not rob its coffers blindly and terrorize everyone who questions us.
Oh, I didn’t know that about that fucking idiot Halim Siddiqi. Fake captain. I am glad he didn’t get it. Just because someone is Urdu speaking means he should get the contract? Were you kidding?
And who will write Captain with their name. It is like writing Matriculated after one’s name.
Hey, quit this urdu/nonurdu crap. Show me the money, and show me the skills. Else get out, even if you are Mir Taqi Mir.
RED MUNK,
you are missing the STRONGEST LINK –
Development of new harbor & jettys – read locate the article on KPT website or check out news paper for complete details.
am sure you will get a clear picture.
cheers
I can’t wait to see DOCTOR, ADNAN SIDDIQI and the other lot come here and thrash Mushy and drag Altag’s ass here in this post :D