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AD Ports Group has signed a new concession agreement for bulk and general cargo operations with Karachi Port Trust (KPT). Under the terms of the 25-year agreement, Karachi Gateway Terminal Multipurpose Limited (KGTML), a joint venture between AD Ports Group, the 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.
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.
In addition to the 800m of quay at the container terminal, this new concession grants the joint venture 1500m of quay for general cargo and bulk operations adjacent to the container terminal and thereby gives the business 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.
The KGTML joint venture plans to invest approximately US$ 75 million in the first two years, followed by further investment of US$ 100 million within 5 years. This will be used to increase efficiency and capacity by 75%, enabling the terminal to handle up to 14 million tonnes per annum.
