Advertisement
Categories: News

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

Advertisement

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.

Advertisement
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 .

Recent Posts

U.S.-wanted nephew of El Chapo captured in Mexico operation

Nephew of Joaquin "El Chapo" Guzman Captured in Mexico Security authorities announced the capture of…

17 minutes ago

Russia Continues Attacks on Kyiv Amid Major Barrage Warning

Russia fired over 100 drones and two ballistic missiles at Ukraine overnight, Ukrainian air force…

26 minutes ago

Earthquake of 4.8 Magnitude Strikes Punjab, Panicking Residents in Mandi Bahauddin and Jhelum Areas

Earthquake of Magnitude 4.8 Strikes Punjab Tremors felt across several areas in Punjab on Monday,…

37 minutes ago

Drake’s ‘Janice STFU’ Tops Charts Over MJ

Drake's post-rap war with Kendrick Lamar saw a significant turnaround. Over two years later, the…

42 minutes ago

Trump Undergoes Annual Medical Exam Ahead of 80th Birthday

US President Donald Trump underwent an annual medical examination on Tuesday, just days before his…

49 minutes ago

Saudi Drones Aid Pilgrims Amid Extreme Heat in Makkah

Saudi health workers are increasingly using drones to supply medical clinics treating heat-stressed pilgrims during…

60 minutes ago