Karachi Port Trust (KPT) and AD Ports Group signed a 50-year concession agreement for a container terminal at East Wharf, Karachi Port in June 2023.
This follows the signing of a 25-year concession agreement for a bulk and general cargo terminal at Karachi Port.
This historic agreement signifies a joint commitment to strengthen Karachi’s position as a strategic maritime hub in the region.
Yesterday, during a conversation at the iftar dinner hosted by Karachi Gateway Terminal Limited (KGTL) to honor the media at a local hotel, Raheel Monis, the Manager of Marketing and Commercial at Karachi Gateway Terminal, remarked.
Former Vice President of KCCI Nasir Mehmood, Deputy Manager Commercial KGTL Kamal Siddiqui, and Assistant Manager Marilyn D’Souza were also present.
Raheel Moniss said that KGTL has undertaken substantial investment projects and that AD Ports Group is ready to invest $220 million in the container terminal over the next decade. With an additional $175 million earmarked for the multi-purpose
terminal, the investment reflects GTL’s confidence in Karachi’s potential as a key gateway for global trade.
The strategic alliance between Ports Group and KPT is poised to open up new opportunities for economic development and trade expansion not only for Karachi but for the entire region. With a shared vision of excellence and progress, this collaboration marks an important step in realizing Karachi’s potential as a leading maritime destination.
Raheel Monis added that this marks the beginning of a transformational era of collaboration and investment. KGTL’s commitment to the development of Karachi Port is evident with the signing of two major concession agreements for container terminal and multi-purpose terminals and its major investment projects.
Source: Pro Pakistani