Pakistan’s Board of Investment (BoI) says a group led by Oman’s Anwar Asian Investments (AAI) has invested US$2.3 billion in a project to build a 1,087-km railway between Jacobabad and the Arabian Sea port of Gwadar. Ready to invest. It is 70 km away from the border of Iran.
BOI Federal Minister Chaudhry Salik Hussain met a delegation led by AAI Chairman Dr. Anwar Al Balushi including CEO of Railway Constructions Pakistan (RailCop) Mr. Syed Najam Saeed and CEO of BIL Pakistan Toseef Zaman. were also included.
According to BOI, AAI is ready to provide financing and loans for the Jacobabad-Gwadar railway along with an immediate installment of USD 500 million for other railway projects in Pakistan.
During a previous visit to Pakistan in January 2022, Al Balushi signed a Memorandum of Understanding (MoU) with Railcop and BIL Pakistan. A feasibility study later prepared by Railcop found that Pakistan’s existing railway infrastructure would be unable to accommodate the increase in traffic forecast when projects are completed under the China-Pakistan Economic Corridor (CPEC) program, part of the Belt and Road Initiative (BRI).CPEC aims to provide a rail connection between Gwadar and Xinjiang province in China.
