PQA expects $1.22bn foreign investment

[LahoreEstate]

Sunday, July 05, 2009
By our correspondent

KARACHI: The Port Qasim Authority (PQA) expects that its development projects will attract foreign investment of $1.22 billion over five years.

In a press statement on Saturday, the PQA said development projects were being undertaken in the private sector on Build Operate Transfer (BOT) basis without costing any penny to the Authority.

Highlighting its projects, the PQA said a liquid cargo terminal, with handling capacity of four million tonnes per annum, had been developed through a joint venture between Felda, Westbury and Qasim (FWQ) at a cost of $15 million.

Soft operations commenced on March 30 while formal commissioning of the terminal is expected shortly. A second container terminal is being developed by DP World at a cost of $250 million with handling capacity of 1.175 million TEUs (twenty-feet equivalent units) per annum.

The terminal is likely to be completed by the end of 2011. Twenty per cent work has so far been completed.

To meet energy demand, an LNG floating terminal is being developed by Gas Port at a cost of $160 million with handling capacity of three million tonnes per annum. It is expected to be completed by the end of 2010.

A specialised grain and fertiliser terminal is being developed by Fauji Akbar Portia at a cost of $100 million with handling capacity of four million tonnes per annum. The terminal is expected to be completed by the end of 2011. Thirty per cent work has so far been completed.

A coal and clinker/cement terminal will be developed at a cost of $175 million with handling capacity of eight million tonnes per annum. The terminal is expected to be completed by the end of 2011 and an implementation agreement is being negotiated.

An LNG terminal is planned to be developed by Granada Group of Companies at a cost of $274 million with handling capacity of 3.5 million tonnes per annum. The terminal is expected to be completed by 2012. Technical and financial proposals are currently being evaluated.

To handle increased volume of petroleum imports, a second oil terminal is planned to be developed at a cost of $51.4 million with handling capacity of nine million tonnes per annum. The terminal is expected to be completed by 2012. Technical and financial proposals are currently being evaluated.

To handle increased volume of goods for Pakistan Steel Mills and to accommodate imports of Al-Tuwairqi Steel Mills, a second iron ore & coal berth is planned to be developed at a cost of $150 million with handling capacity of eight million tonnes per annum.

Outsourcing of the terminal is under active consideration. The development of the terminal will be linked with Pastel Expansion programme. PQA plans deepening of navigation channel for all weather 14 meter draught vessels at a cost of $150 million on Design, construct and finance basis.

The project has been approved by the CDWP on September 18, 2008. Approval of ECNEC is awaited.

Besides capacity building projects, PQA is equally concerned for provision of infrastructure facilities in its industrial zones to gear up development of port based industrial and commercial projects.

To facilitate the traffic flow PQA plans construction of a flyover and dual carriage way at a cost of more than Rs2 billion. PQA has also awarded contract for provision of infrastructure facilities & development works in Eastern Industrial Zone through frontier works organization and national logistics cell at a cost of Rs8.8 billion.

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