ISLAMABAD: Pakistan is working with a Chinese company on a proposed investment of around $800 million to develop an Integrated Maritime Industrial Complex (IMIC) at Port Qasim, officials said after a high-level review meeting chaired by Federal Minister for Maritime Affairs Junaid Anwar Chaudhry.
The project includes ship recycling, ship maintenance facilities and a “sea-to-steel” initiative that would connect dismantled vessels with domestic steel production. Authorities say the plan also involves upgrading the iron ore and coal berth and supporting the revival of Pakistan Steel Mills.
Officials told the meeting that scrap recovered from shipbreaking operations would be processed locally through a new mini-furnace facility, reducing reliance on imported raw materials and strengthening industrial supply chains.
Representatives of the Chinese firm and senior maritime ministry officials participated in the discussions, while the chairman of the Port Qasim Authority joined via video link from Karachi.
According to the ministry, the proposed complex would combine port infrastructure, recycling yards and steel manufacturing within a single industrial corridor. The project aims to improve logistics efficiency, create employment and support export-oriented industry.
The Chinese company is expected to submit a detailed feasibility study covering financial impact, technical structure and risk assessment before final approval.
Officials said the initiative could become a major component of Pakistan’s blue-economy strategy by generating value from maritime assets and boosting domestic manufacturing capacity.
