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In a signing ceremony held in Karachi, Abu Dhabi Ports and Karachi Port Trust have entered into an agreement, transferring the management control of Pakistan International Container Terminals to Abu Dhabi Port Group. The agreement grants Abu Dhabi Ports Group a 50-year management control of the container terminal at Karachi Port.
Under the agreement, the name of Pakistan International Container Terminals will be changed to Karachi Gateway Terminal Limited. The terminal will undergo modernization at a cost of $220 million, with an additional investment of $1.8 billion over the next 10 years. The capacity of the terminal will be increased, and the depth of the berths will be expanded to accommodate post-panamax vessels carrying 8,500 containers.
Karachi Gateway Terminal Limited, located at Berth No. 6 to 9 of East Wharf Port, will witness an increase in container storage capacity and improvements in infrastructure. The investment by Abu Dhabi Ports Group will enhance Karachi’s position in the maritime industry.
The agreement is part of Abu Dhabi Ports Group’s investment strategy to expand its maritime presence and establish long-term development potential in the region. The partnership between the two ports will foster development, stability, and mutual benefits for both countries.
Abu Dhabi Group Managing Director and Group CEO, Captain Muhammad Juma Al-Shamsi, expressed his satisfaction with the historic agreement, highlighting the commitment to transform the maritime landscape and increase benefits for stakeholders. The agreement is expected to open new chapters of development and strengthen the economic ties between the UAE and Pakistan.
