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AD Ports continues to expand operations in Pakistan:AD Ports Group has inked a 25-year concession agreement for more berths at a bulk and general cargo terminal at Karachi Port with Pakistan’s federal government agency Karachi Port Trust, according to a press release. The agreement hands AD Ports’ JV with UAE-based Kaheel Terminals, dubbed Karachi Gateway Terminal Multipurpose, full control of Karachi Port’s East Wharf.
The JV will invest some USD 175 mn in seven years: The JV will invest USD 75 mn in the first two years in port infrastructure and equipment, with a planned USD 100 mn to be invested within five years to boost the terminal’s capacity by 75%. Once completed, the terminal will have the capacity to handle 14 mn tonnes per year, potentially raking in some USD 30 mn in revenues a year in the short term, the statement said.
Background: AD Ports inked a concession agreement in June 2023 that saw it acquire the rights to develop, operate and manage container terminal berths 6 to 10 at the same wharf. The new agreement will also see it manage berths 11-17.
About the terminal: General cargo operations at the port primarily include steel, paper and clinker, while the clean bulk terminal will focus on grains and fertilizers, the statement said.
