Karachi Port to get $250m investment in 10 years

ISLAMABAD: Chief Executive Officer of Abu Dhabi Ports Pakistan Khurram Aziz Khan on Friday called on Prime Minister Shehbaz Sharif and informed that the company would invest $250 million in Karachi Port during the next 10 years.

The company CEO, who was accompanied by a delegation, also told that a fully equipped multipurpose terminal, being constructed through a $130 million investment, would be completed within two years.

The delegation members briefed the prime minister about the company’s investment in the improvement of the container terminal facility at Karachi Port featuring X control, automated gates, 200-meter expansion in berth, crane rail track and development of infrastructure.

It was told that after the development of new infrastructure, cargo ships of up to 120,000 tons capacity would be able to anchor at the port to boost economic activity.

Prime Minister Shehbaz called for using modern technology and machinery to improve cargo and container handling at the port besides reducing the clearance time to a minimum.

He said that the objective of the agreement with Abu Dhabi Ports was to ensure transparency, enhance capacity and improve port operations. He also assured that the government would extend maximum support in executing the agreement to achieve maximum benefits.

The prime minister directed the railway authorities to provide freight bogies and other necessary rolling stock to operationalise the project and, and improve the transportation of cargo from the terminal.

Earlier, PM Shehbaz issued directives to take steps to minimise the custom clearance time by installing the modern equipment and machinery at Port Qasim and Karachi Port Trust.

He also instructed to ensure the installation of state of the art scanning machinery at the ports besides taking steps on priority to fully benefit from the ports’ potential. He further directed to increase the capacity of supply of goods to and from Karachi Port through railway.

“Fees for LNG ships at Port Qasim should be reduced and fixed according to prevailing rates at the international level,” the prime minister said adding that a comprehensive action plan for the regulation of shipping lines should be prepared and presented on priority.