Pakistan Deep Water Container

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On March 2009, Karachi Port Trust (KPT) signed an agreement with Hutchison Port Holdings Limited (Hong Kong, 100 %) for the construction, operation and transfer of a new deep container terminal at Karachi port on a build-operate-transfer (BOT) basis with a term of 25 years. The new terminal, designed to give the Karachi port a handling capacity of 1.47 million TEUs on phase one, was to be developed in three phases. Pakistan Deep Water Container is owned 100% by Hutchison Port Holdings Limited of Hong Kong. This BOT terminal project, which was awarded following an international bidding process, was the result of Government of Pakistan’s economic policy to encourage private sector investment and participation in the development of the country’s port infrastructure. The total cost of the project was estimated at US$ 1.2 billion. And reached financial closure on August 2010. Information’s about the loan still confidential. Construction work on phase one started on September 2010, officials form KPT said the work is 60 percent complete, and expect it to be completed by the end of 2013 or early 2014.