Pakistan approves framework agreement with UAE to hand over two more Karachi Port terminals

Pakistan gave initial approval on Monday for signing a framework agreement with the United Arab Emirates (UAE) to hand over two more Karachi port terminals, including the development of a new multipurpose cargo terminal. This will be the second major seaport terminal deal that Pakistan will sign with the UAE in less than two months.

READ ALSO: Government approves massive power tariff hike to meet IMF demands

Under the deal, the berths from 11 to 17 will be handed over to the UAE Company, Abu Dhabi Ports, for the development and management of two cargo terminals initially for a period of five years.

The general cargo terminal will comprise berths 11 to 13, and the clean terminal will include berths 14 to 17.

The new terminal will be managed for handling food cargo and other commodities, including fertiliser. The contract will also include the up-gradation of Pakistan International Container Terminal (PICT) facilities and the development of associated infrastructure.

Earlier, Pakistan had handed over the operations of five berths (6-10) of the port on the East Wharf of Karachi port. Abu Dhabi Ports has shown fresh interest in the acquisition of 1,833 meters quay length out of the total quay length of 3,124 meters of East Wharf KPT, as shown in the official documents.

Abu Dhabi Ports already acquired 800 quay meters last month under the Karachi Gateway Container Limited (KGCT), and after the new contract, it will control 85% of the quay length of East Wharf.

Source: Express Tribune