A Chinese conglomerate has presented a proposal for a multibillioneuro industrial venture at Port Qasim, a move that could significantly overhaul Pakistan’s maritime and heavy industrial sectors. The plan, estimated to cost between pound 1 billion and pound 2 billion, was discussed on Thursday during a meeting between officials from Shandong Xinxu Group and Federal Minister for Maritime Affairs, Muhammad Junaid Chaudhry.
The fivemember delegation, led by Chairman Hou Jianxin, outlined the concept for an Integrated Maritime Industrial Complex (IMIC). The ambitious undertaking is designed around three core components: the revival of the Iron Ore and Coal Berth (IOCB) Jetty, the creation of modern shipbuilding and shipbreaking facilities, and the development of an integrated steel mill.
A critical element of the proposal involves the IOCB, a facility designed to handle bulk cargo such as iron ore and coal. The berth can accommodate vessels between 55,000 and 75,000 deadweight tons (DWT) and is connected to the adjacent steel mill by a dedicated 4.5-8 kilometer conveyor system.
In response to the presentation, Minister Chaudhry welcomed the Chinese group’s interest and formally requested the submission of an unsolicited proposal. He stressed the need for a comprehensive roadmap detailing the project’s core concepts, along with thorough technical, financial, and environmental feasibility studies.
Once submitted, the extensive proposal will be scrutinized by a joint committee featuring members from both the Ministry of Maritime Affairs and Shandong Xinxu Group. This review body will be spearheaded by Additional Secretary Umar Zafar Sheikh. The minister underscored that the initiative must align with Pakistan’s broader goals for industrial growth, job creation, and environmentally sound development.
The IMIC concept is part of a larger “SteeltoGreen Sea” initiative, which Minister Chaudhry first unveiled in November 2025 following Port Qasim’s recognition as the world’s ninth most improved container port. The strategy envisions an integrated model that links ship recycling with domestic steel manufacturing, aiming to reduce dependence on imports by maximizing the use of recyclable materials.
If the venture receives approval, it would represent one of the most substantial recent foreign investments in Pakistan’s industrial landscape. The project holds the potential to significantly enhance Port Qasim’s stature as a pivotal regional hub for heavy industry and logistics.