KARACHI:Governor Sindh Kamran Khan Tessori today inaugurated Karachi Gateway Terminal Limited (KGTL) at Karachi Port Trust. Earlier known as Pakistan International Container Terminal (PICT) has been acquired by Abu Dhabi Ports Group which will manage, operate and develop KGTL with investment of over US dollar 1 billion. An agreement was signed by chairman KPT Syed Sayedain Raza Zaidi and Chief Executive Officer of Abu Dhabi Ports Group Juma Shamsi in presence of Governor Sindh Kamran Khan Tessori, Chief Minister Sindh Syed Murad Ali Shah, Federal Minister for Maritime Affairs Syed Faisal Sabzwari and dignitaries from UAE.
Governor Sindh said that investment from United Arab Emirates would help in strengthening economy of Pakistan and with this investment the ties between the two countries would be connected further. This terminal would serve as a focal point for enhancement of bilateral trade it would ensure its development on moderns’ lines, with state of the art facilities. He thanked Abu Dhabi Group for reposing their confidence and making such an investment. The economic hub of Karachi provides ample conducive investment opportunities in various fields with all necessary facilities, he added
He also lauded the role of ministry of Maritime Affairs for making this investment possible. Federal Minister for Maritime Affairs Syed Faisal Sabzwari, while highlighting the importance of this investment said that all 634 employees of PICT have been employed for KGTL. An enhancement in Royalty upto 12.5% is expected with this investment, he added.
CEO Abu Dhabi Group Juma Shamsi said that this terminal would not only serve for local trade but would also play a key role in regional and global business activities. Pak-UAE bilateral trade was US dollars 9.3 billion last year and this terminal would be helpful in further enhancing the same, he added. He informed that presently UAE is the biggest trade partner of Pakistan in the entire middle east region. Abu Dhabi Group would also invest in railway and digital network sectors, he further informed. Chairman KPT Syed Sayedain Raza welcomed all guests and said that this investment is good news for specially KPT employees.