http://www.dawn.com/2006/05/04/welcome.htm

Dubai Ports World eyes developing facilities at Gwadar

ISLAMABAD, May 4 (APP): Chairman Dubai Ports World, Sultan Ahmed bin Sulayem, who met President Pervez Musharraf on Thursday, expressed a strong desire to manage the facilities at Gwadar deep sea port and development of infrastructure in the southern port city and elsewhere in the country.

"Gwadar deep sea port is a viable project as it has a major role in serving as a corridor for energy, cargo and services between Central Asia, the Gulf and other surrounding regions," he told newsman at the Aiwan-e-Sadr. Sulayem described the President's response to DP World's interest as very encouraging and said that Musharraf hoped for conclusion of a deal in this respect "very soon."

During the meeting, President Musharraf informed the UAE business leader that he wants Pakistan to become a hub of regional trade and added that the country is set to serve as a commerce and energy corridor between the Middle East, Central Asia, South Asia and the fast-growing Western parts of China.

The chief of DPW also hinted at expanding business at Port Qasim.(Posted @ 14:45 PST)

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Dubai companies seek Gwadar Port management


ISLAMABAD (updated on: May 04, 2006, 20:55 PST): State-owned Dubai World is in talks with Pakistan to develop major infrastructure projects and manage a port earmarked to become a hub for trade between the Gulf, China and Central Asia, officials said on Thursday.

A news release issued by Dubai World quoted President Pervez Musharraf saying the proposed deal would bolster Pakistan's historically strong ties with Dubai and the United Arab Emirates.

Dubai World, a state holding company, said it was looking for involvement in industrial and public sector infrastructure, including oil and gas related projects, airports and port terminal management, along with industrial parks and free zones.

Dubai Ports World and real estate developer Nakheel are the two Dubai World group companies that will lead the ventures in Pakistan.

Mohammad Sharaf, chief executive officer of Dubai Ports told a news conference in Islamabad that the company was seeking management of Gwadar Port for up to 50 years.

"We intend to grow in this market... In ports, transport and logistics. We believe there are great opportunities here," Sultan Ahmed bin Sulayem, chairman of both Dubai Ports and Nakheel, told the news conference.

Pakistan's junior minister for investment, Umar Ghuman, said the government was also planning to build five new cities as part of its grand project to develop the region.


Copyright Reuters, 2006

http://www.dawn.com/2006/05/05/ebr4.htm


DPW chief hopes for Gwadar deal soon

ISLAMABAD, May 4: Dubai Ports World (DPW) chairman Sultan Ahmed bin Sulayem on Thursday called on President Pervez Musharraf and expressed a strong hope for management of facilities at Gwadar deep sea port and development of infrastructure.

“Gwadar deep sea port is a viable project as it has a major role in serving as a corridor for energy, cargo and services between Central Asia, the Gulf and other surrounding regions,” he told newsman at the Aiwan-e-Sadr.

Sulayem described the president’s response to DPW’s interest as very encouraging and hoped for conclusion of a deal in this respect “very soon.”

“Gwadar has all the natural advantages that you will not have anywhere else,” he stated.

During the meeting, President Musharraf informed the UAE business leader that the government would facilitate foreign investment in the country and assured that their business would enjoy legal protection.

“An enabling environment has been put in place to attract both foreign and local investment, which will enjoy an equal playing field.”

The president vowed to make Pakistan a hub of regional trade and added that the country was set to serve as a commerce and energy corridor between the Middle East, Central Asia, South Asia and the fast-growing Western parts of China.

Musharraf spoke of the pivotal location of Gwadar as a gateway among these regions and said the deep sea port would be run on modern lines.

The Chairman Dubai Ports World saw tremendous economic opportunities in Pakistan at the back of a vibrant growth in industrial and other sectors.

“The international investors have great confidence in Pakistan’s economic prospects and investment environment, and we want to participate in the economic growth of Pakistan,” he said.

He also hinted at expanding business at Port Qasim.

The mega port company was looking at opportunities on the industrial side, logistics, free industrial zones, real estate and property development on modern lines as successfully carried in the United Arab Emirates.

“We have visited various sites in Islamabad, Lahore and resorts and construction of housing and commercial complexes.”

Pakistan, he said, had a vast potential for growth in various sectors.

“Pakistan has financial stability, there is enough liquidity in the banks, abundance of liquidity in the capital market in the region, income of the region is high, interest rates are low and opportunities for growth are immense,” he said, listing benefits of investing in the country.

Meanwhile, speaking at a press conference here on Thursday at the Board of Investment (BoI), Sultan Ahmed Bin Sulayem, who was leading a seven-member UAE delegation, said that they would see much larger scope of cooperation between the two brotherly countries.

He said that Pakistan’s economic policies were moving on right track and helping it to achieve tremendous results. “We are looking to secure gains from the existing groups and countries in the region including GCC, Pakistan, and India,” he added.

Mr Sultan, who is also chairman of Nakheel Group of Companies, said that the group had a number of business plans here in Pakistan and exploring the possibilities for making investment in various sectors.

“We could not find better chance and time ever before for suitable investment in this country. We have brought a team to access the business climate and take advantages being offered by the government,” he remarked.

As a result of growing business activities the brotherly relations between the two countries would further enhance creating an atmosphere of more understanding and cooperation, he added.

Minister of State for Investment Umer Ahmad Ghumman while speaking on the occasion said several months back President Pervez Musharraf and Prime Minister Shaukat Aziz had asked for preparing a working paper for enhancing interaction and developmental activities between the two countries.

He said the government was looking at various projects of low cost houses because it wanted to bring down the high prices of housing in the country.

Deputy Chairman Planning Commission Dr Muhammad Akram Sheikh said we had to look into cost of construction and adopt measures for reduction in the input cost.

Mortgage financing has proven very low as compared to other means of resolving housing problems in the world, he added.

He said that Gwadar would become a hub for oil storage for its onward supply to the surrounding regions and it would serve a transit point for Central Asian States.—APP