News Release

31st January 2005

KICT and KPT sign Phase III Development Agreement


[Karachi, 31 January 2005] Karachi International Container Terminal (KICT) has entered into an agreement with the Karachi Port Trust (KPT) for development of its Phase III project at West Wharf of Karachi Port.

In addition to extending the existing concession period, the project involves deepening the alongside draft to 14 metres; enhancing handling capacity by acquiring and redeveloping additional land area (adjacent Berths 26-27, KESC Powerhouse area and KPT Stores area); and acquiring additional quayside and container yard equipment.

With KICT’s expansion plans in place, the Company will operate a total of seven quay cranes, 20 Rubber Tyred Gantry Cranes (RTGCs), eight reachstackers, six empty container handlers, 48 terminal tractors, 64 chassis, six forklifts, and numerous radio data terminals (RDTs). The above profile includes new equipment to be procured which is in addition to the mandated equipment under in the agreement with KPT.

On the occasion KPT Chairman Ahmed Hayat commented: “As the container transport industry in Pakistan is growing at a remarkable pace, KICT’s Phase III development is extremely timely. Furthermore, with Pakistan crossing the one-million TEU throughput level last year, there is a need for a national strategy to create the necessary infrastructure to handle the country’s growing trade. This will enable the port to further strengthen its role as the region’s premier centre of trade.”

Hutchison Port Holdings Group Managing Director John Meredith added: “HPH is pleased with its investment in Pakistan. The Group has heavily invested in KICT to ensure the terminal’s handling capacity continues to expand alongside the country’s robust growth in international trade.”

KICT CEO, Mr. Khurram S. Abbas stated: “KICT is committed to further developing and investing in Pakistan’s port sector and will continue to enhance its facilities to strengthen its competitive edge and contribute towards the economic development of the country. Striving to further enhance productivity, we are also working with Pakistan Customs on the implementation of an automated customs clearance system in order to reduce the container dwell time at the terminal.”

As a subsidiary of the well established Hutchison Port Holdings (HPH) Group, KICT enjoys several advantages, including access to cutting-edge container handling technology, training resources and solid financial support to develop and implement port infrastructure projects.