AD Group and KPT signed a 50-year concession agreement for a container terminal at East Wharf last year (Photo: File)
Karachi: AD Ports Group plans to invest $220 million in Karachi Gateway Container Terminal for the development of Karachi Port.
Raheel Monis, Commercial Head of Karachi Gateway Terminal, while speaking informally at the iftar dinner ceremony held in honor of Council of Economic and Energy Journalists “Sage” Warakin, said that AD Ports Group has developed Karachi Gate for the development of Karachi Port. An investment plan of 220 million dollars has been arranged in Way Container Terminal, under the plan, an additional 175 million dollars has been allocated for the purpose of making the Karachi Gateway Container Terminal multi-purpose.
He said that a 50-year concession agreement for a container terminal at East Wharf was signed between AD Ports Group and Karachi Port Trust in June 2023. The deal follows a 25-year concession agreement for a bulk and general cargo terminal at East Wharf.
He said that this historic agreement signifies the commitment to highlight the importance of Karachi Port as a strategic maritime hub in the region, with the proposed investment in the Gateway Terminal showing confidence in the capacity of Karachi Port for global trade. Further, this strategic alliance between AD Ports Group and KPT will lead to economic development and trade expansion opportunities not only for Karachi but for the entire region.
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