ISLAMABAD: Pakistan and the UAE have signed a commercial agreement to outsource the operations of the bulk and general cargo terminal at East Wharf Karachi Port.
According to a statement issued on Sunday, the operations will be handled at the port’s seven berths.
The agreement signed between Karachi Port Trust and Abu Dhabi Ports Group “is aimed at strengthening” bilateral relations in the maritime and logistics sectors of Pakistan and the UAE.
Interim Prime Minister Anwaar-ul-Haq Kakar witnessed the signing of the agreement and expressed satisfaction at the growth of exchanges, interaction and cooperation between businesses in Pakistan and the UAE.
Last June, AD Ports Group signed a deal to take over part of Pakistan’s main docking facility in Karachi, worth an immediate $220 million.
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AD Ports Group has formed a joint venture with another UAE company, Kaheel Terminals, to take over the berth from the Karachi Port Trust (KPT), the state-owned handling agency.
The Port of Karachi is the oldest and busiest in Pakistan, with 33 berths, and under an agreement with the United Arab Emirates, the joint venture will lease four of them for the next 50 years.
