China is set to invest $800 million in Pakistani Maritime Sector to develop the Integrated Maritime Industrial Complex (IMIC) at Port Qasim, Karachi. This project, involving the Shandong Xinxu Group, aims to enhance ship recycling, maintenance, and the revival of the Pakistan Steel Mills (PSM).
The initiative, branded as the Sea-to-Steel Project, will establish a complete recycling chain from shipbreaking to steel production at PSM. The Iron Ore and Coal Berth, inactive for 12 years, is slated for revival as part of this investment.
The PSM, non-operational since 2015 due to gas supply issues, is a focal point in discussions with Russia for revival. The current government, under Federal Minister for Maritime Affairs Junaid Anwar Chaudhry, is accelerating efforts to modernize port infrastructure and boost industrial operations.
The IMIC is poised to transform Port Qasim into a regional hub for heavy industry, reducing reliance on imported raw materials and fostering economic growth. The project’s approval depends on alignment with national priorities like job creation and sustainable development.
Published in SouthAsianDesk, February 15th, 2026
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