Pakistan International Bulk Terminal Limited signs agreement with JV Consortium

Karachi: The signing ceremony of the Civil Works contract for the construction of Pakistan’s first mechanized coal, cement and clinker terminal at Port Qasim on a thirty year build operate and transfer (BOT) basis was held on March 15th, 2012 at a local hotel in Karachi between Pakistan International Bulk Terminal Ltd (PIBT) and JV Consortium of Turkish firm M/s Siyahkalem-and local firm Maqbool Associates.

The signing ceremony was presided over by Chairman Marine Group of Companies, Capt. Haleem A. Siddiqui and the Chief Guest was the Chairman Port Qasim Authority, Vice Adm. (R) Muhammad Shafi.

The signing of the Agreement was executed by Mr. Sharique A. Siddiqui, CEO of PIBT, and Mr. Masood Shah, CEO of the JV consortium of M/s.Siyahkalem and Maqbool Associates.

PIBT would be constructed as a state-of-the-art dirty bulk cargo handling facility at an estimated cost of approximately USD 175 million at Port Qasim on a 30 year Built Operate and Transfer basis. PIBT has developed an Environment Management Plan (EMP) in compliance with applicable laws and regulations of Pakistan, IFC’s Performance standards and World Bank Group Environmental Health and Safety Guidelines.

The Project is expected to come into operations by the start of 2015. PIBT would be capable of handling up to 12 million tons per annum of Coal, Cement and Clinker. The jetty shall have a depth of 15 meters with the capability of handling large ships of up to 75,000 DWT.

The length of the jetty would be around 460 meters which will be connected to the back area of 25 hectares with a 2.5km long trestle bridge. The terminal is planned to have dedicated storage and handling facilities for each type of cargo i.e. Cement, Clinker and Coal. There will be five silos of 10,000 tons capacity each for Cement storage.

The PIBT Project is in line with the vision of Marine Group of Companies to be the pioneering group of Pakistani entrepreneurs and professionals to set up modern cargo handling infrastructure in the ports in Pakistan to meet the growing demands of cargo handling in the country.

The sponsors of PIBT, the Marine Group of Companies, have the distinction of also setting up the country’s first publicly listed port infrastructure Project by the name of Pakistan International Container Terminal Ltd (“PICT”) that currently handles around thirty percent of Pakistan’s container throughput.

For more information, Contact:
Pakistan International Bulk Terminal Limited
Chief executive officer:
Sharique Azim Siddiqui
2nd Floor, Business Plaza, Mumtaz Hassan Road,
Karachi – 74000.
Pakistan.
Telephone: (92-21) 32400450
Fax: (92-21) 32400281
Email: sharique@mrgc.com.pk