German firm may repair jetty

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ISLAMABAD: A German company has expressed its interest in the management, rehabilitation, maintenance and repair of the jetty at Bin Qasim and in investing $40 million for this purpose over the next five years, sources report.

A delegation of a German Oceanwide Shipping Services company interested in the upgrading and expansion of Iron Ore Coal Berth at Bin Qasim on Wednesday met Minister for Industries & Production Ghulam Murtaza Jatoi and presented him a detailed proposal.

The proposed investment will increase the off-loading capacity at the berth and shorten the supply time from the berth to Pakistan Steel Mills (PSM) which will eventually reduce the cost of imported coal substantially.

Jatoi said that the government is striving to draw foreign investment to Pakistan; therefore, every proposal is welcome and open to discussion.

The government is working on removing hurdles to investment in the country.

He constituted a committee to look into the proposal of the German company and furnish its report.

Courtesy: The News

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