According to a claim made by the Board of Investment (BoI) on Tuesday, an Omani business interested in building Pakistan’s railway infrastructure is prepared to invest at least $2.3 billion in the 1,087-kilometer (km) railway line connecting Gwadar and Jacobabad.
According to representatives of the BoI, the foreign group disclosed its plans to invest in the railway project at a meeting with the Federal Minister of the BoI, Chaudhary Salik Hussain, on Tuesday. Dr. Anwar Al Balushi, Chairman of Al Anvwar Asian Investments LLC, Syed Najam Saeed, CEO of RAILCOP, and Tauseef Zaman, CEO of Bil Pakistan, headed the delegation from Oman.
The Omani firm is interested in spending $2.3 billion in the Besimah-Jacobabad railway line as part of Dr. Anwar Baluchi’s interest in Pakistani electricity and railway infrastructure development projects, it was revealed during the meeting.
He mentioned the building of a 1,087 km rail link between Gwadar and Jacobabad as the first tranche of finance, and said that his business is prepared to send $500 million to Pakistan for the project. Additionally, the CEO of the foreign business reportedly told the authorities that they can provide finance or loans for starting additional projects as well. The Omani delegation was prepared to cooperate in order to advance bilateral relationships and enhance business links between the two nations.
Chaudhary Salik Hussain welcomed the group’s interest and told the delegation that they would be accommodated in every manner.
He gave the delegation his entire backing and assistance as well. Salik Hussain stated that he would facilitate and quicken the Omani company’s investment procedure in Pakistan.
The two delegations decided to strengthen their ties by working together on development initiatives.
To read our blog on “Pakistani descent Tafheen Sharif is the first Muslim woman to be elected as Deputy Mayor of a British town,” click here.