Islamabad, Pakistan/ Abu Dhabi, UAE – 03 February 2024: AD Ports Group (ADX: ADPORTS), a global leader in trade, logistics, and industry, today announced the signing of a new concession agreement for Bulk and General Cargo operations with Karachi Port Trust (KPT), the Pakistani federal government agency that oversees the operations of the Port of Karachi.
Under the terms of the 25-year concession agreement, Karachi Gateway Terminal Multipurpose Limited (KGTML), a Joint Venture between AD Ports Group, as a majority shareholder, and Kaheel Terminals, a UAE-based company, will develop, operate and manage the Bulk and General Cargo terminal berths 11-17 at Karachi Port’s East Wharf, further enhancing Karachi’s position as a key player in the maritime industry.
This agreement builds upon the concession agreement secured by AD Ports Group to develop, operate and manage Karachi Gateway Terminal Limited (KGTL) container terminal berths 6-10 at Karachi Port’s East Wharf in June 2023.
In addition to the 800 meters quay for the container terminal, this new concession grants the Joint Venture 1,500 meters of additional quay wall for general cargo and bulk operations adjacent to the container terminal and thus gives full operational control of Karachi Port’s East Wharf. General cargo operations will primarily handle steel, paper and clinker, while the clean bulk terminal will focus on grains and fertilisers.
Thank you for your interest in our Investor downloads. You will be added to our investor database to receive updates from our investor relations teams by filling in the form.
This website contains general information about Abu Dhabi Ports PJSC (AD Ports Group) (the “Company”). The contents have been made available to you solely for information purposes and does not purport to be complete. By reading information on this website you agree to be bound as follows: nothing on this website shall constitute or deemed to constitute an invitation to invest or otherwise deal in securities in the Company.
Any investor or prospective investor considering making a transaction of securities in the Company should consult with its own counsel and advisers as to all financial, legal, tax, and related matters concerning an investment in such securities.
This website contains forward‐looking statements. These statements may include the words “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “project”, “will”, “may”, “targeting” and similar expressions as well as statements including, without limitation, those regarding the financial position, business strategy, plans, targets and objectives of the management of the Company for future operations, including development plans and objectives. Such forward‐looking statements involve known and unknown risks, uncertainties and other important factors which may affect the Company’s ability to implement and achieve results set out in such forward‐looking statements and which may cause actual results and developments to be materially different from any forecast, opinion or expectation expressed on this website.