{"id":71753,"date":"2023-06-26T00:00:00","date_gmt":"2023-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/26\/ad-ports-group-inks-50-year-agreement-to-operate-and-develop-terminal-at-karachi-port\/"},"modified":"2023-06-26T00:00:00","modified_gmt":"2023-06-26T00:00:00","slug":"ad-ports-group-inks-50-year-agreement-to-operate-and-develop-terminal-at-karachi-port","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/26\/ad-ports-group-inks-50-year-agreement-to-operate-and-develop-terminal-at-karachi-port\/","title":{"rendered":"AD Ports Group inks 50-year agreement to operate and develop terminal at Karachi Port"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">AD Ports Group ink agreement to operate + develop Karachi terminal: <\/span><span style=\"\">AD Ports <\/span><span style=\"\">Group has signed a 50-year concession agreement with Pakistan\u2019s Karachi Port Trust (KPT) \u2014 the Pakistani government body overseeing operations at the facility \u2014 to \u201cmanage, operate, and develop\u201d Karachi Gateway Terminal Limited (KGTL) at Karachi Port\u2019s East Wharf, <\/span><span style=\"\">according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2023\/06\/22\/adpg-signs-50-year-concession-agreement-with-karachi-port\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\">. AD Ports Group will establish a joint venture with UAE-based Kaheel Terminals, to operate the terminal under the agreement. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The details: <\/span><span style=\"\">The AD Ports Group-led JV will roll out improvements to the port\u2019s infrastructure and superstructure over a 10-year timeframe, with most of the work slated for 2026,<\/span><span style=\"font-weight:400;\"> according to the statement. Improvements will include the deepening of berths, extensions to quay walls, and upped container storage area. Following the planned overhauls, facilities at the port will be equipped to handle Post Panamax vessels up to 8.5k TEUs and container capacity will be boosted from 750k to 1 mn TEUs a year. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Ownership breakdown of the JV: <\/span><span style=\"font-weight:400;\">AD Ports Group will be the JV\u2019s majority shareholder, the statement said, without providing an exact breakdown. The value of the investments lined up for the port was also not disclosed in the statement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Background:<\/span><span style=\"\"> The finalized agreement comes on the heels of an <\/span><span style=\"\">MoU inked<\/span><span style=\"\"> between Pakistan and the UAE <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wam.ae\/en\/details\/1395303159521\" style=\"\">in May<\/a><\/span><span style=\"\"> which paved the way for AD Ports to contribute to developing Pakistani ports, and saw both countries commit to closer trade ties. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/b3e1bfec-1c25-400a-9027-4c1c4f625bbd\" style=\"\">Last week<\/a><\/span><span style=\"\"> saw reports that the UAE and Pakistan were close to an understanding on the port, with Pakistani Finance Minister Mohammad Ishaq Dar stating that a committee had been put together to work on drafting an agreement.<\/span><span> d increasing efforts in the development, expansion, and digitalisation of port projects within Pakistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The two sides also signed three MoUs on rail, freezones, and digitalization: <\/span><span style=\"\">The agreements will see AD Ports Group support Pakistan in the design, study, and implementation of a range of logistical infrastructure projects that aim to boost efficiency, reduce costs, and enhance competitiveness at Karachi\u2019s port and other sites, the statement said. The projects include<\/span><span style=\"font-weight:400;\"> upgrading the connectivity of Karachi Port to railway systems in the country; developing, operating, and managing industrial and freezone facilities in the Port Qasim area; and developing digital trade and logistics solutions, including customs digitalization. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said: <\/span><span style=\"\">\u201cThis milestone agreement will bolster the terminal's capacity, further enhancing its attractiveness to international trade partners to contribute to the growth of Karachi's position as a key player in the global trade industry,\u201d UAE\u2019s Foreign Trade Minister, Thani bin Ahmed Al Zeyoudi, said. \u201cAD Ports Group is not only investing in the development of the Karachi Gateway Terminal but also setting the stage for greater cooperation and mutual benefit between the UAE and Pakistan,\u201d he added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AD Ports Group has been on an expansion spree: <\/span><span>The UAE-based port operator\u2019s expansion into Pakistan comes less than a week after it <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/590161db-94b8-43b2-83e2-e16189b19bd9\" style=\"\">announced<\/a><\/span><span> a 30-year concession agreement it signed with the Congo to run a terminal at the country\u2019s Pointe-Noire Port. AD Ports had concluded yet another concession agreement <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2023\/03\/18\/ad-ports-group-signs-a-30-year-concession-agreement-to-develop-and-operate-safaga-port-in-egypt\" style=\"\">in mid-March<\/a><\/span><span>, which granted it the rights to develop and operate a port on Egypt\u2019s Red Sea coast at Safaga.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Developments will include deepening of berths, quay wall extensions, and increased container storage area<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[168,17,380,211,549,21],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71753","post","type-post","status-publish","format-standard","hentry","category-zones","tag-ad-ports","tag-enterprise-logistics","tag-investment","tag-pakistan","tag-port","tag-zones","wpautop","entry"],"acf":{"mongo_id":"88fce4b1-e401-499c-9364-dd8a00c04d71","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/1240.jpg,https:\/\/www.adportsgroup.com\/en\/news-and-media\/2023\/06\/22\/adpg-signs-50-year-concession-agreement-with-karachi-port","photo_position":"above","homepage_title":"","full_issue_title":"AD Ports Group inks 50-year agreement to operate and develop terminal at Karachi Port","related_issue":[71748],"teaser":"Developments will include deepening of berths, quay wall extensions, and increased container storage area","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.b4f2f92e-c347-4b60-9b17-59ab034b60a2.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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