News Desk
KARACHI: Sindh Governor Kamran Khan Tessori inaugurated Karachi Gateway Terminal Limited (KGTL) at Karachi Port Trust (KPT).
Earlier known as Pakistan International Container Terminal (PICT) has been acquired by Abu Dhabi Ports Group which will manage, operate and develop KGTL, while making a huge investment of over US $1 billion.
An agreement was inked by KPT chairman Syed Sayedain Raza Zaidi and Chief Executive Officer of Abu Dhabi Ports Group Juma Shamsi in presence of Sindh Governor Kamran Khan Tessori, Sindh Chief Minister Sindh Syed Murad Ali Shah, Federal Minister for Maritime Affairs Syed Faisal Sabzwari and dignitaries from UAE.
Sindh Governor said that investment from United Arab Emirates would help bolster up the national economy and strengthen the investment ties of both the Muslim brotherly countries.
He said that the terminal would serve as a focal point with a view to enhancing the bilateral trade and would ensure its development on modern lines while bristling with the state-of-art families.
Paying gratitude and thanks to Abu Dhabi Group for trust in making such an investment, he said: “The economic hub of Karachi always provides ample conducive investment opportunities in various fields with all necessary facilities.”
He also lauded the role of Ministry of Maritime Affairs for making this investment possible.
While highlighting the importance of this investment Federal Minister for Maritime Affairs Syed Faisal Sabzwari, he said that all 634 employees of PICT have been employed for the KGTL. An enhancement in royalty upto 12.5 per cent is expected with this investment.
CEO Abu Dhabi Group Juma Shamsi said that this terminal would not only provide service for the local trade but would also play a key role in regional and global business activities. Pak-UAE bilateral trade was US $9.3 billion last year and this terminal would help enhance the sheer volume of the trade.
“Presently, the UAE is the biggest trade partner of Pakistan in the entire middle east region. Abu Dhabi Group would also invest in railways and digital network sectors,” he said.
Welcoming all the guests, KPT chairman Syed Sayedain Raza said that this investment is good news for specially KPT employees.
