Pakistan International Container Terminal

Last updated

Pakistan International Container Terminal
Company type Public
PSX:  PICT
Founded2002;22 years ago (2002)
Headquarters Karachi, Pakistan
Parent International Container Terminal Services
Website www.pict.com.pk

Pakistan International Container Terminal (PICT) was a container terminal port located located at berths 6-9 on the East Wharf of the Port of Karachi. [1]

Contents

History

Pakistan International Container Terminal (PICT) was established in 2002 on build–operate–transfer basis. [2] It was a joint venture between Premier Mercantile Services and Hamburg Port. [1] The total cost of the project was estimated at $75 million out of which $9.25 million was funded by the International Finance Corporation in form of loans. [1] [3] The funds were used to acquire container handling equipment and quay cranes. [1]

In 2003, PICT was listed on the Karachi Stock Exchange, following an initial public offering. [4] [5]

In April 2004, the first phase of the project became operational at a cost of $30 million. [3] [6]

In April 2012, International Container Terminal Services acquire 35 percent of the PICT. [7] As of 2012, it has a maximum handling capacity of 750,000 TEUs. [7]

In June 2023, PICT successfully completed its twenty-one year concession agreement with the Karachi Port Trust (KPT) and the terminal was transferred to KPT accordingly. [8] [9] The same month, UAE based AD Ports Group leased the terminal for 50-years and renamed it Karachi Gateway Terminal Ltd. [10]

Related Research Articles

<span class="mw-page-title-main">Transport in Pakistan</span>

Transport in Pakistan is extensive and varied. In recent years, new national highways have been built, with the addition of motorways which have improved trade and logistics within the country. Pakistan's rail network is also undergoing expansion in recent years. Airports and seaports have been built with the addition of foreign and domestic funding. Transportation challenges in Pakistan are escalating due to poor planning, inadequate governance, and corrupt practices.

<span class="mw-page-title-main">Allama Iqbal International Airport</span> Airport serving Lahore, Pakistan

Allama Iqbal International Airport is the third largest civilian airport by traffic in Pakistan, after Jinnah International Airport, Karachi and Islamabad International Airport. It serves Lahore, capital of Punjab and second-largest city of Pakistan. It also serves a large portion of the travellers from the other regions of Punjab province. Originally known as Lahore International Airport, it was renamed after the visionary poet and philosopher Dr. Allama Iqbal, one of the pioneers that led to the creation of Pakistan. The airport has three terminals: the Allama Iqbal terminal, the Hajj terminal and a cargo terminal. The airport is about 15 km from the centre of the city.

<span class="mw-page-title-main">Pakistan Railways</span> Pakistani state-owned railway company

Pakistan Railways is the national, state-owned railway company of Pakistan with its headquarters in Lahore. Founded in 1861 as the North Western State Railway and headquartered in Lahore, it owns 7,789 kilometres of operational track across Pakistan, stretching from Peshawar to Karachi, offering both freight and passenger services, covering 488 operational stations across Pakistan.

Kamarajar Port, formerly Ennore Port, is located on the Coromandel Coast, Chennai about 18 km north of Chennai Port. It is the 12th major port of India, and the first port in India which is a public company. The Kamarajar Port Limited is the only corporatised major port and is registered as a company. Chennai Port Trust acquired around 67% stake of Centre in the Kamarajar Port Limited on 27 March 2020. The remaining 23 percent was already held by the Chennai Port Trust.

<span class="mw-page-title-main">DP World</span> Emirati multinational logistics company

DP World is an Emirati multinational logistics company based in Dubai, United Arab Emirates. It specialises in cargo logistics, port terminal operations, maritime services and free trade zones. Formed in 2005 by the merger of Dubai Ports Authority and Dubai Ports International, DP World handles 70 million containers that are brought in by around 70,000 vessels annually. This equates to roughly 10% of global container traffic accounted for by their 82 marine and inland terminals present in over 40 countries. Until 2016, DP World was primarily a global port operator, and since then, it has acquired other companies up and down the value chain.

<span class="mw-page-title-main">Port Qasim</span> Deep-water seaport in Karachi, Pakistan

The Port Muhammad Bin Qasim, or Qasim Port Authority, also known as Port Qasim, is a deep-water seaport in Karachi, Sindh, Pakistan, on the coastline of the Arabian Sea under the administrative control of the Secretary to the Government of Pakistan for Maritime Affairs. It is Pakistan's second busiest port, handling about 35% of the nation's cargo. Port Qasim and Karachi Port, the busiest port of the country, together handle almost 90% of all external trade of Pakistan. The remaining maritime trade is routed through Gwadar Port.

The Gwadar Port is situated on the Arabian Sea at Gwadar in Balochistan province of Pakistan and is under the administrative control of the Maritime Secretary of Pakistan and operational control of the China Overseas Port Holding Company. The port features prominently in the China–Pakistan Economic Corridor (CPEC) and is considered to be a link between the Belt and Road Initiative and the Maritime Silk Road projects. It is about 120 kilometres (75 mi) southwest of Turbat, and 170 kilometres (110 mi) to the east of Chabahar Port.

<span class="mw-page-title-main">Karachi Port Trust</span> Government organization

The Karachi Port Trust (KPT) (Urdu: ادارہِ تولیتِ بندرگاہ کراچی) is a Pakistani federal government agency, under the administrative control of the Federal Maritime Secretary that oversees the operations of the Port of Karachi, one of South Asia's largest and busiest deep-water seaports which handles over 90% of the nation's foreign trade. The agency is headquartered at the colonial-era Karachi Port Trust Building.

<span class="mw-page-title-main">Port of Karachi</span> Deep-water seaport in Sindh, Pakistan

The Port of Karachi is one of South Asia's largest and busiest deep-water seaports, handling about 60% of the nation's cargo located in Karachi, Pakistan. It is located on the Karachi Harbour, between Kiamari Azra Langri, Manora, and Kakapir, and close to Karachi's main business district and several industrial areas. The geographic position of the port places it in close proximity to major shipping routes such as the Strait of Hormuz. It is also ideally located to offer gateway services to the maritime trade for the Central Asian Republics (CARs). The administration of the port is carried out by the Karachi Port Trust, which was established in 1857.

<span class="mw-page-title-main">Adani Ports & SEZ</span> Indian multinational port operator and logistics company

Adani Ports and Special Economic Zone Limited (APSEZ) is an Indian multinational port operator and logistics company, part of Adani Group. APSEZ is India's largest private port operator with a network of 12 ports and terminals, including India's first port-based SEZ at Mundra and the first deep water transshipment port at Thiruvananthapuram. The company has attracted controversies for cronyism, alleged stock manipulation and violation of environmental norms.

<span class="mw-page-title-main">Islamabad International Airport</span> Airport serving the Islamabad–Rawalpindi metropolitan area of Pakistan

Islamabad International Airport is an international airport serving Islamabad, the capital city of Pakistan and Rawalpindi. It is located 25 km (16 mi) south-west of the city, and is directly connected to the Lahore and Peshawar motorways as well to the capital city Islamabad via Srinagar Highway.

The city of Karachi is a major transport hub of Pakistan. The Karachi port and airport are major gateways to Pakistan. The Karachi Railway stations transports the major part of Pakistan's trade with other countries.

The Kattupalli Shipyard, officially Adani Katupalli Port Private Limited, is a large shipyard project at Kattupalli village near Ennore in Chennai, being built by L&T Shipbuilding Ltd. It is being set up jointly by TIDCO and Larsen & Toubro (L&T) in two phases. L&T shipbuilding Kattupalli is a minor port. Adani ports and special economic zone (APSEZ) acquired Kattupalli Port from L&T in June 2018 and renamed it as Adani Katupalli Port Private Limited (AKPPL).

<span class="mw-page-title-main">Port of Colombo</span> Port in Sri Lanka

The Port of Colombo Sinhala: කොළඹ වරාය, Tamil: கொழும்பு துறைமுகம் is the largest and busiest port in Sri Lanka and the Indian Ocean. Located in Colombo, on the southwestern shores on the Kelani River, it serves as an important terminal in Asia due to its strategic location in the Indian Ocean. During the 1980s, the port underwent rapid modernization with the installation of cranes, gantries and other modern-day terminal requirements.

<span class="mw-page-title-main">Jinnah International Airport</span> International airport in Karachi, Pakistan

Jinnah International Airport, formerly Drigh Road Airport or Karachi Civil Airport, is Pakistan's busiest international and domestic airport, and handled 7,267,582 passengers in 2017–2018. Located in Karachi, the largest city and commercial capital of Pakistan and capital of the province of Sindh, it is named after Muhammad Ali Jinnah, the statesman founder of Pakistan. It is one of the oldest airports in the world.

Khalifa Port is the Abu Dhabi Ports' flagship deepwater port. It is a gateway to Abu Dhabi and handles all of the emirate’s container traffic. The transfer of container traffic from Zayed Port was completed in December 2012.

Cnergyico Pk Limited, formerly Byco Petroleum Pakistan Limited and Bosicor Pakistan Limited, is a Pakistani petroleum refinery based in Karachi. It is a subsidiary of the Mauritian company Cnergyico Industries Incorporated.

<span class="mw-page-title-main">Maple Leaf Cement</span> Pakistani building materials company

Maple Leaf Cement is a Pakistani cement manufacturer based in Lahore. It is the fifth-largest cement manufacturer in Pakistan after Lucky Cement, DG Cement, Bestway Cement, and Fauji Cement.

The Karachi Freight Corridor is a significant infrastructure project in Pakistan aimed at improving the movement of freight from the Karachi port city to various parts of the country. The project involves the construction of a dedicated double-track corridor and other related facilities.

<span class="mw-page-title-main">Karachi Gateway Terminal Multipurpose (Private) Limited</span> Pakistani cargo terminal company

Karachi Gateway Terminal Multipurpose (Private) Limited (KGTML) operates a bulk and general cargo terminal on the East Wharf of Pakistan's Karachi Port. Karachi Port is Pakistan's most important port of international trade. Over 90% of imports and exports of Pakistan take place through Karachi Port.

References

  1. 1 2 3 4 "Pakistan International Container Terminal - IFC". IFC.
  2. "Deal signed for Karachi Port expansion". DAWN.COM. 24 April 2005. Retrieved 2 August 2019.
  3. 1 2 "2nd phase of PICT work begins in March". DAWN.COM. 27 January 2005.
  4. Hussain, Dilawar (26 November 2003). "OGDCL IPO attractsRs28bn". DAWN.COM.
  5. "Company Profile".
  6. "Common user container terminal". DAWN.COM. 16 August 2003. Retrieved 2 August 2019.
  7. 1 2 "Philippine operator to buy 35 per cent of Pakistani container terminal". DAWN.COM. 2 April 2012. Retrieved 2 August 2019.
  8. Ahmad, Daniyal (10 July 2023). "PICT clarifies end of operations, handover". Profit by Pakistan Today. Retrieved 26 August 2024.
  9. Alam, Kazim (17 October 2023). "Pakistan International Container Terminal Ltd yet to find business opportunity". DAWN.COM.
  10. "UAE firm to operate Karachi Terminal". DAWN.COM. 23 June 2023. Retrieved 26 August 2024.