Ink a 25-year Concession Agreement for Bulk and General Cargo Terminal
AD Ports Group has announced the signing of a new concession agreement for Bulk and General Cargo operations with Karachi Port Trust (KPT), the Pakistani federal government agency that oversees the operations of the Port of Karachi.
Under the terms of the 25-year concession agreement, Karachi Gateway Terminal Multipurpose Limited (KGTML), a Joint Venture between AD Ports Group, as a majority shareholder, and Kaheel Terminals, a UAE-based company, will develop, operate and manage the Bulk and General Cargo terminal berths 11-17 at Karachi Port’s East Wharf, further enhancing Karachi’s position as a key player in the maritime industry.
This agreement builds upon the concession agreement secured by AD Ports Group to develop, operate and manage Karachi Gateway Terminal Limited (KGTL) container terminal berths 6-10 at Karachi Port’s East Wharf in June 2023.
Full operational control
In addition to the 800m quay for the container terminal, this new concession grants the Joint Venture 1,500 meters of additional quay wall for general cargo and bulk operations adjacent to the container terminal and thus gives full operational control of Karachi Port’s East Wharf. General cargo operations will primarily handle steel, paper and clinker, while the clean bulk terminal will focus on grains and fertilisers.
“This agreement reflects the UAE’s openness to trade and investment globally, expanding its network of trade partners, and creating trade routes that link the world,” HE Dr Thani Bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade.
“This new concession further consolidates AD Ports Group’s position as a highly invested and cost-effective enabler of trade for the CIS countries by contributing to the supply chain extending to that region creating competitive access to World markets,” remarked Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.