The Port Qasim Authority (PQA) and Pakistan International Bulk Terminal (PIBT) on Saturday signed an 'Implementation Agreement' to build a $173 million fully-automated coal, cement and clinker terminal (CCCT) at Port Qasim. PQA Chairman Vice Admiral (R) Muhammad Shafi and Chief Executive Officer of Pakistan International Bulk Terminal (PIBT), Sharique A Siddiqui, signed the agreement at a ceremony at a local hotel.
The terminal will be established on 'Build, Operate and Transfer' (BOT) basis for a period of 30 years. On the occasion, Karachi Port Trust chairperson Nasreen Haque and members of ports and shipping sector were present. PIBT will be the country's first dirty bulk cargo handling facility and will be constructed at an estimated cost of $173 million over a period of 30 years. The project is expected to become operational in three years, with an initial project expenditure of $140 million.
The terminal will have capacity to handle annually 8 million tons coal, cement and clinker. The jetty will have a depth of 15 metres, with capability of handling large ships of up to 75,000 dwt. The length of the jetty will be around 460 metres, which will be connected to the backup area of 25 hectares with a 2.5 km long trestle. The terminal is planned to have storage and handling facilities for each type of the cargo.
PQA Chairman appreciated Pakistan International Bulk Terminal for huge investment at Port Qasim, and said, "It is probably the largest and totally locally owned investment at Port Qasim". He said that the coal, clinker and cement terminal had been conceived some four years ago but became possible to coming into existence under his chairmanship. He said that Port Qasim was developing fast while around 176 operational industries and 276 manufacturing units were under construction.
Shafi said Port Qasim had great appeal for users with its 45 km long navigational channel and fast building infrastructure, hoping that the country's second largest port would become a leading one in the future. Chairman of Pakistan International Container Terminal, Captain Haleem Siddiqi said the bulk terminal project had been pending for the past four years for approval. He lauded PQA chairman's efforts to materialise it in a short span.
"The project was lying for four years at Port Qasim, but PQA chairman kicked it off," he said. He also highlighted his firm's involvement in ports and shipping-related projects in the country, saying that "we missed no opportunity since 1981 to participate in bids of ports and shipping sector".