Karachi, December 5, 2024 – Pakistan International Bulk Terminal Limited (PIBT) has officially disclosed a fire incident that occurred at its terminal, resulting in significant damage to infrastructure. The company shared the update with the Pakistan Stock Exchange (PSX) on Thursday.
According to PIBT’s statement, the fire broke out on November 19, 2024, during the discharge of a coal cargo at its terminal. The incident caused considerable damage to a section of the terminal’s infrastructure. PIBT emphasized that the cause of the fire was beyond its control and that it had a material and adverse impact on a portion of the terminal. Consequently, this has affected the company’s ability to meet some of its obligations in full.
Despite the damage, PIBT reassured the public that terminal operations have continued without major disruption. The company has made alternative arrangements to discharge cargo, though the fire has temporarily impacted its capacity to handle cargo on behalf of its customers. PIBT noted that this could result in delays in the discharge process.
The company is working diligently to manage the situation and ensure that cargo handling continues smoothly. PIBT expressed confidence that operations will return to their usual efficiency by December 2024.
About PIBT
Pakistan International Bulk Terminal (PIBT) was established as the country’s first dedicated terminal for handling coal, clinker, and cement, operating on a build, operate, and transfer (BOT) basis at Port Qasim Authority. Port Qasim, situated about 50 kilometers from Karachi along the Arabian Sea, is an essential hub, handling over 40% of Pakistan’s cargo.
PIBT has an established capacity to manage up to 12 million tons of coal and 4 million tons of cement and clinker annually. This capacity can be further expanded to 20 million tons per year. The terminal is a crucial component in the coal supply chain, facilitating deliveries to power and cement plants across Pakistan through rail, road, and sea networks. PIBT plays an integral role in ensuring the efficient supply of vital materials to industries throughout the country.