The project, which involves the construction of 1100 TEU container ship, has been revived with the support of the Pakistan Navy, Karachi Shipyard, and Pakistan National Shipping Corporation.

The revival of the project, which had been on hold for nine months, marks a significant milestone in Pakistan’s cargo shipbuilding efforts.

The ship will have the capacity to transport 1,100 twenty-foot containers at once, a major development for the country’s maritime industry.

This $24.57 million contract is expected to lower shipbuilding costs compared to international prices, helping reduce Pakistan’s reliance on foreign shipping companies.

It will also save foreign exchange and strengthen Pakistan’s maritime sector, contributing to the country’s economic self-sufficiency.

The last time Karachi Shipyard built a commercial ship was in the 1970s.

This new project is part of ongoing efforts by SIFC to develop the maritime sector and promote the “blue economy” in Pakistan.