Categories: News

AD Ports Group ready to invest $220 million in container terminal

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.

Karachi Gateway Terminal Manager Marketing and Commercial Raheel Monis said yesterday in a conversation on the occasion of the iftar dinner given by Karachi Gateway Terminal Limited(KGTL) in honor of the media at a local hotel. Former Vice President of KCCI Nasir Mehmood, Deputy Manager Commercial KGTL Kamal Siddiqui and Assistant Manager Marilyn D’Souza were also present. Highlighting her commitment to the development of the port,

Raheel Mons 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 Munis 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. The mail informed about Karachi’s role as a platform with significant developments in the maritime sector, ushering in a new era of cooperation and investment.

Mazhar Ali Raza

Mazhar Ali Raza is a senior journalist from Karachi. He has served more than twenty years in journalism. He was recently associated with the dunya media group as a senior business reporter from the last eleven years . Prior to that he has worked for CNBC for the period of four years. His major beats were the energy auto banking and agriculture sector . He has covered many seminars and exhibitions in Pakistan and abroad as well .