DP World bids for Pakistan port

DP World is among eight companies that are bidding to build a new container terminal in Pakistan.The Dubai port operator is not only competing against its traditional rivals such as Singapore's and Hutchison Port Holding of Hong Kong, but also facing a challenge from a group led by Sharjah-based Gulftainer.To be developed in three phases on a build-operate-transfer (BOT) basis, the Pakistan Deepwater Container Port in Keamari near Karachi Port will be developed as a transshipment hub to compete with the Indian ports of Mundra and Nhava Sheva.The prequalification process for the 4 million TEU (twenty-foot equivalent container unit) handling capacity port was completed last month.The Pakistani government is expected to float a tender by the end of this month.