Omanis to invest in Gwadar to Jacobabad Rail Track
Islamabad, 1st August, 2022: Dr. Anwar Al Balushi Chairman, Al Anvwar Asian Investments LLC called on CEO of Railway Constructions Pakistan Limited (RAILCOP), 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 on 11th January, 2022.
Dr. Anwar Baluchi briefed the CEO, RAILCOP that Al Anvwar Asian Investments LLC is interested in Railway Infrastructure Development projects and power projects in Pakistan. He identified the construction of rail link from Gwadar to Jacobabad (track length is 1,087 Km) and as a first tranche of financing, his company is ready to transfer $500 Million to Pakistan for this rail link project. Moreover, they 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.
The CEO RAILCOP 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 need of the time because due to floods and rains, the track is badly affected and requires immediate repair and upgradation.
He further said that the strategic location of Baluchistan 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 our trade with Afghanistan and Central Asia is the underdeveloped transport system that could not facilitate trade. The existing railway network in Baluchistan is in deplorable condition and due to the lack of adequate infrastructure, the bilateral trade between Pakistan and its neighbouring countries has not progressed. He added that for a greater economic impact, improved railway connectivity is the ultimate necessity not only for Baluchistan but for the whole country and trade development across the country.
Project Synopsis: The Pakistan Railways intends to construct a new railway link between Gwadar and Jacobabad for providing cheaper, efficient and dependable railway service to meet with the requirements of Gwadar port in light of the Forecast of Gwadar Port Master Plan 2014. The Route shall start from Gwadar Port and pass through the central part of the province, for transportation of cargo from/to Sea Port, industrial products, movement of general goods and creation of traveling facilities basically for the people of Baluchistan province. This rail link will facilitate mobility of passengers and carriage of other surplus transportable commodity loads originating from rural and urban areas in the province for further use at terminal markets. This route will also establish a mutual trade link between China, Central Asian Republic and Land Locked neighbouring countries.
Company Intro: Al Anvwar Asian Investments LLC recognized as a leading global facilitator in Project Financing and International Trade Development. Over the decade since our inception in 2011, AAI has focused on acting as a reliable partner for both multi national and regional customers alike. We work with governments, public listed companies, professional service providers and private project owners in several countries to make their courses easier to achieve significant contribution levels in the national and global market places. Our clients can leverage on our team and network of connections distributed across the world who can deliver invaluable experience and mobilize resources for projects of any size and magnitude.