Abu Dhabi Ports Group to invest $1.8bn in Pakistan port operations

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MG News | June 21, 2023 at 05:16 PM GMT+05:00

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June 21, 2023 (MLN): Abu Dhabi Ports Group, a renowned global port operator will make a significant investment of $1.8 billion in Pakistan's port operations.

Consequently, Abu Dhabi Ports will take over Pakistan International Container Terminal (PICT) and rebrand it as Karachi Gateway Terminal.

The agreement includes a five-year lease for the terminal, with provisions for a potential extension based on mutual agreement.

This partnership between Abu Dhabi Ports and Pakistan signifies a strong commitment to bolstering the country's maritime sector and enhancing its connectivity with global trade networks.

The transformation of PICT into the Karachi Gateway Terminal will position it as a pivotal gateway for international trade, facilitating seamless logistics operations and fostering economic growth in the region.

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