KARACHI: Karachi Port Trust (KPT) on Friday unveiled eight billion dollarsof a plan to build freight corridor between the country’s two main seaports.
Chairman Rear Admiral Jamil Akhtar of Karachi Port Trust (KPT) said thegovernment planned the freight corridor to link Karachi port and Port Qasimthrough railways, roads and liquefied natural gas pipeline passing throughthe sea.
“The project is estimated to cost $8 billion and can be completed withinfive years,” Akhtar said, addressing a news conference.
“We have quite positive response from Chinese and companies in the west inthis regard.” KPT chief said the project is primarily aimed atinterconnectivity of the country’s ports.
Minister for Maritime Affairs Abdullah Hussain Haroon said Karachi port isbeing strangulated as more than 30 percent of KPT’s lands are encroached,locking entry and exit routes of the port.
Haroon said KPT is also planning to establish 300 megawatts of power plantand a water desalination plant with a capacity of producing 150 milliongallons/day.
“We would prefer a joint venture for the project, but KPT can also do it onits own.”
The minister said the government would develop and design the plan. Hehoped that the upcoming government would take up the projects.
Earlier, maritime minister reviewed the progress of the port projects.
Chairman KPT briefed him about the infrastructure projects of the portincluding shuttle freight train from KPT to Dhabeji, chemical and edibleoil terminal, cargo village and industrial park.
He said KPT has taken Pakistan Railways onboard to enhance cargotransportation.
“KPT has crossed 54 million tons of cargo handling and in few years KPTwill break 75 million tons cargo handling barrier as South Asia PakistanTerminals has also become shortly operational which has the capacity tohandle 3.1 TEUs (twenty-foot equivalent) containers annually.”
Port Qasim and its adjoining industrial area assumed much importance in therecent past due mainly to various planned industrial units in the vicinity.
Government has acquired 1,500 acres of land from Pakistan Steel Mills toset up an industrial park, as a part of China-Pakistan Economic Corridor(CPEC) projects.
China pledged more than $60 billion to build infrastructure and set uppower plants, while a number of special economic zones are envisaged underCPEC.
Port Qasim is also important for investors who planned to set up auto andother plants in the National Industrial Park in Bin Qasim.
Kia-Lucy Motors planned more than $100 million of investment to set up autoassembling plant near the port.
A Dutch firm is also planning an egg processing plant, which will be thefirst-of-its-kind in the country, in the area.
In December last year, the first unit of two coal-fired power plants – eachhaving 660MW of production capacity – started production.
The coal-fired power project is being developed by a consortium ofAl-Mirqab Capital of Qatar and Power China with a cost of $2.08 billion atPort Qasim.