The Economic Co-ordination Committee (ECC) of Pakistan has agreed to onlend US$115 million to Karachi Port Trust (KPT) that would be made available by the World Bank for reconstruction of berths at 8.2 percent interest rate subject to bearing of exchange risk by the entity itself, Business Recorder reported.
KPT plans to replace the over 50 year old non-operational berths 15-17A and Ship Repair Berths at East Wharf. The new berths, when constructed, will have 922 meters of quay wall with eventual 14 to 16 meters available draft and capable of handling 100,000 Dead Weight Tonne (DWT) Super Post Panamax Ships. All required modern cargo handling facilities and associated services will be provided to cater for containers, bulk and general cargo and ro-ro car carriers.
KPT has been financing development projects through its own resources and has never received any public sector funding from the federal government, however, World Bank has been actively assisting in the phased development of the Port of Karachi since 1955.
KPT plans to replace the over 50 year old non-operational berths 15-17A and Ship Repair Berths at East Wharf. The new berths, when constructed, will have 922 meters of quay wall with eventual 14 to 16 meters available draft and capable of handling 100,000 Dead Weight Tonne (DWT) Super Post Panamax Ships. All required modern cargo handling facilities and associated services will be provided to cater for containers, bulk and general cargo and ro-ro car carriers.
KPT has been financing development projects through its own resources and has never received any public sector funding from the federal government, however, World Bank has been actively assisting in the phased development of the Port of Karachi since 1955.