Karachi, Pakistan – Abu Dhabi Ports, a leading global port operator and subsidiary of the Abu Dhabi Ports Group, has officially signed an agreement with the Karachi Port Trust to obtain administrative control of the Pakistan International Containers Terminal (PICT) located at Karachi Port Terminals.
The signing ceremony, held between the Karachi Port Trust and Abu Dhabi Ports, marks a significant milestone in enhancing maritime operations in Pakistan.
As part of the agreement, Abu Dhabi Ports will invest a substantial amount of $180 million in the operations of the Pakistan International Containers Terminal and the Bulk Cargo Terminal at various ports. This investment will contribute to the development and modernization of the maritime infrastructure in Pakistan, further strengthening the country’s position in global trade and logistics.
The collaboration between Abu Dhabi Ports and Karachi Port Trust highlights the strong bond between brotherly countries, fostering opportunities for foreign direct investment and economic growth in Pakistan’s maritime sector. The delegation from Abu Dhabi Ports, comprising high-ranking officials, demonstrates the commitment of both parties to forging mutually beneficial partnerships.
In conjunction with the administrative control transfer, Pakistan International Containers Terminal will undergo a name change and be rebranded as Gulf Terminal Limited (GTIL). An inaugural ceremony will be organized to celebrate this significant milestone, symbolizing the beginning of a new era in the terminal’s operations.
The strategic investment and partnership between Abu Dhabi Ports and Karachi Port Trust not only reinforce fraternal relations but also instill confidence in potential investors seeking opportunities in Pakistan. The government of Pakistan is actively promoting investment from both government and business sectors, fostering an environment conducive to economic growth and development.
The agreement between Abu Dhabi Ports and Karachi Port Trust sets the stage for increased collaboration and cooperation in various sectors, facilitating trade and strengthening Pakistan’s position as a key player in the global maritime industry.
Pakistan Single Window Integrates Fisheries and Mercantile Marine Departments
