Chinese group eyes €2bn integrated maritime project at Pakistan’s Port Qasim

China’s Shandong Xinxu Group has pitched a multi-billion-euro integrated maritime and industrial project at Port Qasim, one of Pakistan’s key ports, marking one of the largest proposed foreign investments in Pakistan’s maritime sector in recent years. A five-member delegation from China’s Shandong Xinxu Group has met Federal Minister for Maritime Affairs, Muhammad Junaid Chaudhry to discuss a proposed Integrated Maritime Industrial Complex (IMIC) at Port Qasim. According to a statement released on Thursday, the delegation, led by the company’s chairman Hou Jianxin, discussed a proposal for the project, estimated to cost between €1 billion and €2 billion, aimed at revitalising Pakistan’s maritime and heavy industrial base. The proposed IMIC would comprise three main components, including the revival of the Iron Ore and Coal Berth (IOCB) Jetty, commonly referred to as the steel jetty, the establishment of shipbuilding and shipbreaking facilities, and the setting up of a steel mill integrated with port operations.