Chinese firm eyes $800 million investment in Port Qasim sea-to-steel project
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Integrated Maritime Industrial Complex to link ship recycling with Pakistan Steel revival
A Chinese company is expected to invest $800 million in Pakistan under a proposed Integrated Maritime Industrial Complex (IMIC) at Port Qasim, aimed at linking ship recycling with domestic steel production, The Express Tribune reported.
The project includes revival of the Iron Ore and Coal Berth, the development of shipbreaking and maintenance facilities, and efforts to restart operations at Pakistan Steel Mills (PSM). The initiative has been described as a “sea-to-steel” model connecting maritime assets with industrial output.
Under the proposal, a mini-furnace facility would be established at PSM to process scrap generated from ship recycling. The Iron Ore and Coal Berth, which has remained unused for over a decade, would also be restored under the plan.
PSM has been non-operational since 2015 after the suspension of gas supply. The government has been exploring options for its revival, including discussions with international partners.
The proposal was reviewed during a high-level meeting chaired by Minister for Maritime Affairs Junaid Anwar Chaudhry. Representatives of China’s Shandong Xinxu Group and officials of the Ministry of Maritime Affairs participated, while the chairman of Port Qasim Authority joined via video link.
The IMIC framework includes port infrastructure upgrades, shipbuilding and recycling facilities and integration with steel manufacturing. The Chinese company has indicated it will submit a detailed feasibility study covering financial projections, structural assessments and risk evaluations.
Officials said the project aims to reduce reliance on imported steel inputs by utilising recyclable scrap generated domestically. The proposal will undergo further review before any formal approval.
The government has stated that future investment decisions will be assessed based on alignment with national priorities, including employment generation, value addition and sustainable industrial development.
Reference Link:- https://profit.pakistantoday.com.pk/2026/02/14/chinese-firm-eyes-800-million-investment-in-port-qasim-sea-to-steel-project/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
