Pakistan International Container Terminal

Pakistan International Container Terminal (PICT) is a container terminal port located located at berths 6-9 on the East Wharf of the Port of Karachi.[1]

Pakistan International Container Terminal
Company typePublic
PSX: PICT
Founded2002 (2002)
HeadquartersKarachi, Pakistan
ParentInternational Container Terminal Services
Websitewww.pict.com.pk

History

Pakistan International Container Terminal (PICT) was established in 2002 on build–operate–transfer basis.[2] It was a joint venture between Premier Mercantile Services and Hamburg Port.[1] The total cost of the project was estimated at $75 million out of which $9.25 million was funded by the International Finance Corporation in form of loans.[1][3] The funds were used to acquire container handling equipment and quay cranes.[1]

In 2003, PICT was listed on the Karachi Stock Exchange, following an initial public offering.[4][5]

In April 2004, the first phase of the project became operational at a cost of $30 million.[3][6]

In April 2012, International Container Terminal Services acquire 35 percent of the PICT.[7] As of 2012, it has a maximum handling capacity of 750,000 TEUs.[7]

In June 2023, PICT successfully completed its twenty-one year concession agreement with the Karachi Port Trust (KPT) and the terminal was transferred to KPT accordingly.[8]

References
  1. "Pakistan International Container Terminal - IFC". IFC.
  2. "Deal signed for Karachi Port expansion". DAWN.COM. 24 April 2005. Retrieved 2 August 2019.
  3. "2nd phase of PICT work begins in March". DAWN.COM. January 27, 2005.
  4. Hussain, Dilawar (November 26, 2003). "OGDCL IPO attractsRs28bn". DAWN.COM.
  5. "Company Profile".
  6. "Common user container terminal". DAWN.COM. 16 August 2003. Retrieved 2 August 2019.
  7. "Philippine operator to buy 35 per cent of Pakistani container terminal". DAWN.COM. 2 April 2012. Retrieved 2 August 2019.
  8. Alam, Kazim (October 17, 2023). "Pakistan International Container Terminal Ltd yet to find business opportunity". DAWN.COM.
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