Dubai Group evince interest in managing Gwadar Seaport

Islamabad: A delegation of Dubai-based investment group called on President General Pervez Musharraf on Thursday and conveyed to him its willingness to operate Gwadar Port. A delegation of the Nakheel Group Investment of which Dubai Ports World is a part is nowadays visiting Pakistan.

The meeting was part of the group's efforts to operate and manage the country's multibillion port that is often termed energy and trade corridor for China and Central Asia.

The first phase of Pakistan's largest deep-sea port at Gwadar along with the coastal belt of Balochistan is about to complete within the next few months.

Prime Minister Shaukat Aziz has time and again been saying that the government would like some international operators to run Gwadar Port after its completion.

'We have told the President (Musharraf) that we want both operational and managerial control of the port,' Dubai Ports World Chairman Sultan Ahmed bin Sulayem told media.

'Pakistan's economy is growing...we want to participate in the development of the country and it is the best time to be here (in Pakistan),' Sultan said.

About the modus operandi of the deal the group wanted to have with the Government of Pakistan, he said, there was nothing specific at the moment.

'We have just started negotiations. Talks are at the initial stage and will take some time to mature,' Sultan said, but another member of his delegation added the group would like to operate Gwadar under a deal at least for 50-60 years.

Planning Commission Deputy Chairman Akram Sheikh said the government would prefer a Built, Operate and Transfer (BOT) basis for the second phase of Gwadar Port.

Sultan said the group also wanted to invest in various other sectors in Pakistan, including real estate, transportation and logistics.

Minister of State for Privatisation and Investment Umar Ahmed Ghuman said the government would sign an umbrella memorandum of understanding (MoU) with the group for the investment it wanted to make in Pakistan.

The group also includes representatives from Dubai Islamic Bank Limited, the UAE and Jebel Ali Free Zone.