| Company type | Public |
|---|---|
| PSX: PICT | |
| Founded | 2002 |
| Headquarters | Karachi, Pakistan |
| Parent | International Container Terminal Services |
| Website | www |
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]
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]