In a significant development, the Karachi Port Trust (KPT) has granted administrative control of the container terminal to Abu Dhabi Ports Group for duration of 50 years.
Under the agreement, Abu Dhabi Ports Group will invest a substantial amount of 220 million dollars into the terminal, with the investment period spanning 10 years, and a major portion to be invested in 2026. This investment will focus on enhancing the depth of berths and increasing the storage capacity of containers.
The upgraded berths will enable post-panamax ships carrying up to 8,500 containers to anchor at the terminal. Additionally, the container holding capacity will witness a substantial increase to an impressive 1 million containers.
A noteworthy aspect of the agreement is that all revenues generated by the terminal will be in dollars, with estimated annual revenue of 30 million dollars.
The Terms of Agreement (TORs) regarding the operation, repair, maintenance, and development rights of the Pakistan Container Terminal on behalf of Abu Dhabi Ports were recommended by the Cabinet Committee on Inter-Governmental Transactions
They have now been placed before the Federal Cabinet for approval. This development marks a significant step toward strengthening the port infrastructure and boosting trade activities in the region.
By the time of writing this editorial on Thursday evening, the number of innocent passengers…
Sugar. The sweetener word brings sour taste to one's mind when people come across the…
The stunning results of the USA elections surprised both Democrats and Republicans alike. Trump's unprecedented…
The advancement of technology around the world and the widespread spread of social media have…
Pakistan's democratic system is in jeopardy. Civilians and the military have taken turns to rule…
Leave a Comment