Oman’s Al Anvwar Asian Investments (AAI) LLC, recognized as a leading global facilitator in project financing and international trade development, is interested in Railway Infrastructure Development projects and power projects in Pakistan.
Al Anvwar Asian Investments LLC Chairman Dr. Anwar Al Balushi called on Railway Constructions Pakistan Limited (RAILCOP) CEO Syed Najam Saeed to discuss the financing for the construction of railway projects linking a number of regions in Pakistan.
In this regard, a tripartite memorandum of understanding (MOU) was signed between Anwar Asia Investment Company Oman, Railway Constructions Pakistan Limited (RAILCOP), and BIL Pakistan Pvt Ltd in January.
Baluchi briefed the RAILCOP CEO that AAI is interested in Railway Infrastructure Development projects and power projects in Pakistan. He identified the construction of a rail link from Gwadar to Jacobabad (track length of 1,087 mm) and said that as the first tranche of financing, his company is ready to transfer $500 million to Pakistan for this project.
The chairman said that the company can offer financing/loans for undertaking other projects also. He said that we will work together to improve bilateral relations and strengthen economic ties between the two countries.
RAILCOP CEO said that Pakistan Railways after due process assigned the task to RAILCOP to update and revalidate the study for updating/revalidation of previous reports of Gwadar – Jacobabad Rail Link. He said that the construction of this track is the need of the hour because due to floods and rains. The track is badly affected and requires immediate repair and upgradation, he added.
He further said that the strategic location of Balochistan would make it a trading center linking Pakistan’s industrial hub with the energy-rich areas of Central Asia and the Middle East. The main problem that affects Pakistan’s trade with Afghanistan and Central Asia is the underdeveloped transport system that could not facilitate trade.
He added that for a greater economic impact, improved railway connectivity is the ultimate necessity not only for Balochistan but for the whole country and trade development across the country.
