KARACHI – Pakistan’s first dedicated bulk cargo terminal Fauji Akbar Portia Martine Terminals (FAP) and Food Department, Govt. of Sindh have signed an agreement for establishment of Strategic Storage Facility at South Western Industrial Zone of Port Qasim, says a press releae.
The MoU was signed by Ahmed K. Rana, CEO, Fauji Akbar Portia Marine Terminals and Mr. Aftab Ahmed Memon, Secretary of Sindh Govt., Food Department at SBI office. Minister of Finance, Govt. of Sindh Mr. Murad Ali Shah, Chairman Sindh Board of Investment Mr. Zubair Ahmed Motiwala, Secretary Finance Govt. of Sindh Mr. Naveed Kamran Baloch, M.D. Fauji Foundation, Lt. Gen(R) Mustafa Khan and Vice Chairman FAP, Mr. Ghouse Akbar were also present at the occasion.
According to MoU, FAP will invest $100 million including a foreign direct investment (FDI) component from potential Chinese investors for establishment of the storage facility of 150,000 tons of wheat / grain exclusively for GoS or its nominees.