SIFC revives 1100-TEU ship project at Karachi Shipyard

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The Special Investment Facilitation Council (SIFC) has revived the 1100-TEU containership project, which had been on hold for nine months, according to the state media.

The initiative will see Karachi Shipyard construct Pakistan’s first large commercial vessel in over 40 years.

The project is being executed with the cooperation of the Pakistan Navy, Karachi Shipyard, and the Pakistan National Shipping Corporation (PNSC).

 

 

 

 

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The new vessel will be capable of carrying 1,100 twenty-foot equivalent units (TEUs) of containers.

The shipbuilding contract, valued at $24.75 million, is expected to provide an opportunity to construct the vessel at a lower cost compared to international market rates.

This project is viewed as a key step in reducing Pakistan’s reliance on foreign shipping companies and promoting economic self-sufficiency.

In addition to potential foreign exchange savings, the project is expected to strengthen Pakistan’s maritime industry and contribute to the development of the country’s "blue economy."