PIBTL to increase cargo handling capacity to 16mtpa

Pakistan International Bulk Terminal Limited (PIBTL) is expanding operations to increase its cargo handling capacity by four million tons per annum (mtpa). The project expansion, which has been approved by the terminal operator's Board of Directors in its meeting on Thursday, would increase the overall handling capacity of the Terminal to 16 mtpa from the existing 12 mtpa.
The proposed expansion of the capacity, the company said, would be in line with the national requirement of coal imports for the upcoming power plants. The PIBTL's plan is aimed at increasing the national coal handling capacity for the imported coal at the country's seaports.
"The total project cost is now estimated at $255 million," the listed company informed its stakeholders here at Karachi Stock Exchange. The budgeted debt-to-equity ratio for the project cost stands at 49:51. The PIBT is in advance level of negotiations with the international and local financial institutions in respect of the incremental debts.