ISLAMABAD – Prime Minister Shahid Khaqan Abbasi has formally inauguratedPakistan’s high-tech deep water terminal, Hutchison Ports Pakistan, whichhas been developed with the investment of $1.8 billion.
Speaking as a chief guest, PM said that the terminal has been developed onthe model of Public Private Partnership (PPP) which brings investment,technology and operators along with high standard service quality to thecustomers.
The deep sea water project will be expanded with the integrated powerproject with four power plants of 400 MW along with an LNG terminal anddesalination plant of 50 million gallons.
PM added that the government is likely to allocate funds for the completionof external parts of the project including elevated bridge and expresswaythrough Public Sector Development Projects (PSDP).
“Ports in general, and Hutchison Ports Pakistan, in particular, are anintegral part of Pakistan’s economic development and will contributesignificantly to change Pakistan’s economic landscape for the better,” headded.
The deep sea projects are instrumental to the economic growth at times whenthe country is witnessing high GDP along with consistent development ofinfrastructure through China Pakistan Economic Corridor (CPEC).
Besides this port, the Gwadar Port is very much operational while PortQasim is being developed as an energy terminal for meeting energy needs ofthe country. Further, there are four new energy-based projects in thepipeline that will be completed and operational in the coming months.
The port is also South Asia’s First Container Terminal having a capacity ofhandling 3.1 million TEUs cargo per annum as against the overall handlingcapacity of other terminals that stood at 2.5 million TEUS. The terminal isone of the most advanced in the region, having broken its own productivityrecord four times and serviced some of the largest containerships in theworld since test operations beganlink>on9 December 2016. Its high performance is expected to raise Pakistan’sglobal trade competitiveness and set a strong foundation for furthereconomic growth.
Unlike other ports, Hutchison Ports Pakistan is capable of handling biggestcargo ships available in the world. It already received biggest ship in thehistory of Pakistan.
The ceremony was led by the Prime Minister of Pakistan, Shahid KhaqanAbbasi, demonstrating the importance of the terminal to Pakistan’sdevelopment. Also present were Minister for Maritime Affairs Senator MirHasil Khan Bizenjo; Sindh Governor Muhammad Zubair and the Chairman ofKarachi Port Trust (KPT) Rear Admiral Jamil Akhtar.
Captain Syed Rashid Jamil, General Manager and Head of Hutchison PortsPakistan, noted the terminal’s advanced characteristics and concluded byaffirming that Hutchison Ports Pakistan already plays an important role bycreating the conditions for accelerated trade and will further magnifyKarachi’s potential, transforming it into a prime Asian hub for trade andtransport activities.
Furthermore, the terminal will launch a new regional operations center inDecember 2018, allowing it to engage in remote ship planning for ports inother markets that are part of the Hutchison Ports network. In short, thefacility’s technological advantages significantly reduce cycle times andprovide substantial cost savings to exporters and importers.
The capital-intensive mega-development projects such as Hutchison PortsPakistan will enable optimized trade, supporting the national economy.