South Korea extended invite to invest in Pakistan Railways


ISLAMABAD: Federal Minister for Railways Sheikh Rasheed Ahmad on Monday invited a delegation of South Korea to seek business and investment opportunities in Pakistan Railways.

While chairing a meeting with the Korean delegation on investment opportunities in Pakistan Railways at the Ministry of Railways, he asked the delegation to look at the possibility of upgrading Main Line-I, II and III projects, which were bound to turn around the railways into a modern network.

The delegation of the Korea Rail Network Authority (KRNA), led by South Korean Ambassador Kwak Sung-Kyu, visited Pakistan Railways to explore investment and business opportunities, according to a press release.

KRNA is a subsidiary of the Transport Department of the Government of South Korea.

The minister said Pakistan Railways was open to investment from all countries and the present government was committed to upgrading the Main Line-I and Main Line-II.

The upgrade of Main Line-I was the lifeline of China-Pakistan Economic Corridor (CPEC).

The minister said Pakistan gave valuable importance to its ties with South Korea and both KRNA and Pakistan Railways were interested in mutual cooperation.

He pointed out that Main Line-II and Main Line-III was also important for CPEC, hence, the South Korean government should also give importance to these networks.