Sultanate of Oman to invest $500M in Railway Projects
Islamabad, 11th January 2022: An MOU was signed between Anvwar Asia Investment Company Oman, Railway Constructions Pakistan Limited (RAILCOP) and BIL Pakistan Pvt Ltd whereby the Anvwar Investment Company, Oman would invest up to USD 500 million in the Railway Infrastructure Projects in Pakistan that would include Rail Tracks and other Railway Infrastructure facilities.
The CEO RAILCOP, Syed Najam Saeed, said on the occasion that the efforts of H.E. K. K. Ahsan Wagan, the Ambassador of Pakistan to Oman, and Mr. Tauseef Zaman, CEO, Bil Pakistan has been instrumental in creating this opportunity that will go a long way in developing bilateral business and strengthen the economic ties between the two countries. He further added that strong railway infrastructure is essential for achieving sustainable growth in exports as it is the cheapest mode of goods transportation not only at the domestic level but also for cross-border trade.
He further said that this investment will facilitate the country to develop new railway links, goods terminals, and manufacturing of top-of-the-line rail fastening equipment at multiple geographic locations that will not only generate economic activity but shall also create job opportunities.