Automated terminal to be built in three years

KARACHI: The country’s first mechanised and automated environment-friendly coal, cement and clinker terminal will come into operation within the next three years and an implementation agreement for the project was signed here on Saturday.

The terminal will be constructed at Port Qasim and function on 30-year build, operate and transfer basis. The agreement was signed by Port Qasim Authority (PQA) Chairman Vice Admiral M Shafi and Pakistan International Bulk Terminal Limited (PIBT) CEO Sharique A Siddiqui.

Chairman of the Marine Group of Companies, which runs PICT, Captain Haleem Siddiqui said six companies had been initially picked for the project after the PQA invited expressions of interest from foreign and national parties in 2006. Of those, PICT was selected for the project because it was technically and financially more sound that the other bidders.

The PIBT will be constructed at an estimated cost of $173 million.

Published in The Express Tribune, November 7^th, 2010.