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AD Ports Group and Karachi Port Trust (KPT) announced today the signing of a concession agreement for the development and operation of the Karachi Gateway Terminal Limited (KGTL).
Under the terms of the 50-year concession agreement, a Joint Venture between AD Ports Group, as a majority shareholder, and Kaheel Terminals, a UAE-based company has been formed to manage, operate and develop the KGTL berths 6-9 at Karachi Port’s East Wharf.
The JV will undertake significant investments in infrastructure and superstructure over the next 10 years, with the bulk of it planned for 2026.
The development works will include dredging and deepening of berths, extension of quay walls, and an increase in container storage area.
As a result, the terminal will be able to handle Post Panamax class vessels of up to 8,500 TEUs (Twenty-Foot Equivalent Units) and container capacity will increase from 750,000 to 1 million TEUs per annum.
This expansion and enhancement will further cement the Terminal and Karachi’s position as a key player in the maritime industry.