Draft:Karachi Gateway Terminal (Private) Limited
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|  |
 | |
| Company type | Private |
|---|---|
| Industry |
|
| Founded | 2023-07-23 |
| Headquarters | Berth 6-10 East Wharf, Karachi Port, Karachi , Pakistan |
Key people | Khurram Aziz Khan, CEO |
| Services | Container Terminal Operations |
| Parent | AD Ports Group (UAE) |
| Website | www |
Karachi Gateway Terminal (Private) Limited (KGTL) operates berths 6-10 on the East Wharf of Karachi Port, Pakistan under a fifty-year concession.[1]. Karachi Port is the largest and busiest deep-sea port of Pakistan and one of the largest deep-sea ports in Asia. AD Ports Group is a majority shareholder in Karachi Gateway Terminal (Private) Limited [2]. Karachi Port is the first South-Asia addition to the global maritime trade network of AD Ports Group .
Background[edit]
The Government of the United Arab Emirates and the Government of Pakistan had signed an MoU on May 18, 2023 [3], to enhance trade cooperation between the two countries. Under the signed MoU, both the United Arab Emirates and Pakistan would collaborate under a framework for the improvement of transportation infrastructure, efficient and cost-effective cargo logistics, and enhancement of the regional competitiveness of Karachi Port [2]. The MoU was signed between UAE’s AD Ports Group and Pakistan’s Karachi Port Trust [4].
Karachi Gateway Terminal (Private) Limited[edit]
Karachi Gateway Terminal (Private) Limited - KGTL, was registered with the Securities and Exchange Commission of Pakistan on August 8, 2023. KGTL is a joint venture between AD Ports Group as the majority shareholder and Kaheel Terminals, a UAE based company [5] [6]. Karachi Gateway Terminal (KGTL) was formed to operate the container terminal across berths 6-10 on the East Wharf of Karachi Port under a fifty-year concession [7] [8]. KGTL is headquartered in the city of Karachi on the East Wharf of Karachi harbor [9].
Mr. Khurram Aziz Khan is the current CEO of KGTL [10]
Development of Karachi Port[edit]
AD Ports Group will invest $220 million over the first 10 years [11] [12] [13] [14]. In this regard, an upfront payment of $50 million has been made to Karachi Port Trust [15]. Bulk of the investment is expected to be made in 2026 for infrastructure and superstructure development [16].
KGTL is planning on deepening the berths to accommodate vessels with up to 15 meters draft depth. This will allow for larger and deeper draft vessels to berth [17]. KGTL is also expanding the container storage yard for increased handling capacity of more than 1 million TEUs per annum [18] [13].
KGTL is working with the Karachi Port Trust (KPT) in the assessment and development of a new turning basin that would accommodate vessels of a length-overall (LOA) of up to 350 meters.[10]
The enhancement of ports operated by Karachi Gateway Terminal will support Karachi Port's bid to become a major player in the regional maritime industry.[18] [16]
References[edit]
- ^ "UAE group to operate Karachi port for 50 years". www.geo.tv. Retrieved 2024-02-29.
- ^ a b "AD Ports Group Signs 50-Year Concession Agreement with Karachi Port Trust for Container Terminal". adportsgroup.com. Retrieved 2024-03-13.
- ^ Qureshi, Raiq (2023-05-18). "Abu Dhabi Ports Group, KPT signs strategic MOU to develop advanced port infrastructure at Karachi Port". Retrieved 2024-02-29.
- ^ Release, Press (2023-05-19). "Strategic MoU signed: AD Ports Group, KPT to develop advance port infrastructure". Brecorder. Retrieved 2024-02-29.
- ^ "Part of Karachi port operations leased to UAE group for 50 years". www.thenews.com.pk. Retrieved 2024-02-29.
- ^ Rahman, Fareed (2023-06-22). "AD Ports signs 50-year concession agreement to develop Karachi port". The National. Retrieved 2024-03-08.
- ^ "AD Ports Group signs 25-year deal with Karachi Port Trust to develop, operate and manage terminals". gulfnews.com. 2024-02-03. Retrieved 2024-03-08.
- ^ "UAE to pay $102 million over five years to operate Karachi port terminal — senate". Arab News PK. 2023-10-06. Retrieved 2024-03-08.
- ^ "Welcome To Karachi Gateway Terminal Limited - KGTL". kgtl.com.pk. Retrieved 2024-03-13.
- ^ a b desk, News (2023-11-01). "13th Annual Port, Shipping and Logistics Management Summit held". Pakistan Observer. Retrieved 2024-02-29.
{{cite web}}:|first=has generic name (help) - ^ AFP (2023-06-23). "Karachi port: Govt to lease four out of 33 berths to UAE for $220m". Brecorder. Retrieved 2024-02-29.
- ^ Reporter, A. Staff. "AD Ports Group inks pact to run Karachi Port in Pakistan". Khaleej Times. Retrieved 2024-03-08.
- ^ a b "UAE's AD Ports set to invest $220 million in Karachi Gateway Terminal, eyes expansion". www.thenews.com.pk. Retrieved 2024-04-09.
- ^ Sarfraz, Sohail (2024-04-04). "Multipurpose terminal: KGTL aims to invest $75m". Brecorder. Retrieved 2024-04-09.
- ^ "UAE firm to pay $50m upfront to Karachi Port". www.thenews.com.pk. Retrieved 2024-02-29.
- ^ a b "AD Ports Group signs 50-year concession agreement with Karachi Port Trust". gulfnews.com. 2023-06-22. Retrieved 2024-03-13.
- ^ AFP (2023-06-23). "Karachi port: Govt to lease four out of 33 berths to UAE for $220m". Brecorder. Retrieved 2024-02-29.
- ^ a b Reporter, The Newspaper's Staff (2023-06-23). "UAE firm to operate Karachi Terminal". DAWN.COM. Retrieved 2024-02-29.