Japan Bank for International Co-operation (JBIC) has agreed to finance the $750 million Port Bridge, a cable stay bridge to be built by Karachi Port Trust (KPT) over its navigational channel at Karachi port.
According to KPT sources the Japanese bank has shown its satisfaction over the feasibility report of the bridge, which would connect the proposed Pakistan Deep Water Container Port (PDWCP) to the Cargo Village at western backwaters and onwards to the Northern Bypass and Lyari Expressway.
"Our plans for the bridge are vindicated by the fact that the JBIC concurs with our feasibility report and is ready to finance the Port Bridge," they added. KPT, the sources said, has envisaged the bridge to be higher than the San Francisco Golden Gate Bridge with a 68-meter air draft, 300 meter span and approximately six kilometres causeway length.
They said this would be for the first time that KPT, which is a profitable semi-governmental institution, and since long has not opted for any loan or grant for port development works, would try its hand at a foreign lending to materialise the mega project.
KPT had always used its revenues to develop its infrastructure and had embarked upon development of various projects from its own resources, they said. The proposed bridge would be the first of its kind in Pakistan and would be completed within four years, said the sources.
They said the bridge would have two causeways, the first to connect Manora to the Clifton's Defence area and Sandspit Road while the other would extend further to pass over western backwaters. According to the sources KPT has awarded engineering consultancy for the project to M/s Leonhardt Andra and Partners of Germany.