$1bn deep water port agreement signed.

[Aalsi]

Mashallah. So much development under the so called dictator’s leadership. Long may it continue. Ameen.

What a shame the so called democratically elected govts. did so little for Pakistan when they were in power.

http://thenews.jang.com.pk/daily_detail.asp?id=79619

$1bn deep water port agreement signed

Terminal will make Pakistan a trans-shipment hub: Musharraf

Friday, November 09, 2007

By our correspondent

ISLAMABAD: The Karachi Port Trust (KPT) has inked an agreement with Hutchison Port Holdings Ltd to set up a new harbour enclave “Pakistan Deep Water Container Port” (PDWCP) east Keamari Groyne. The agreement, signed at the President’s Secretariat, Islamabad, is aimed at meeting Pakistan’s rapid container growth and to enter the regional trans-shipment market.

The PDWCP project is estimated to cost US$1 billion, out of which $457 million will be foreign direct investment (FDI) and the remaining to be invested by the KPT, says a news statement issued on Thursday. Secretary, Investment Division/BOI, Mushtaq Malik said that despite security concerns and media propaganda against Pakistan, investment continues to surge in, which reflects confidence of global investors in the current government’s policies.

Speaking on the occasion, President General Pervez Musharraf said the construction of one billion dollar Deep Sea Container Terminal at Karachi would turn the country into a major trans-shipment hub for regional countries, further bolstering Pakistan’s trade and commerce. Chairman KPT Vice Admiral Ahmad Hayat, while giving an overview of the project assured a minimum royalty payment of one point $1 billion to the KPT over a 25 year concession period. He said 10 berths will be spread over an area of five kilometres and the first vessel is expected to sail into the new terminal by 2010.

Hutchison Port Holdings Ltd is a renowned Hong Kong based company and intends to develop the site into a full-fledged state-of-the-art container terminal and build 850 square metre backup area into a high throughput terminal. While highlighting post-development advantages of the Port, BOI secretary further said that so far only two terminals (KICT and PICT) have been setup in the private sector on BOT basis, and the new terminal will be capable of receiving and handling Super Post Panemax Container Ships and will also have both road and rail connections. This will transform Karachi Port into a trans-ship hub of the region, thereby substantially reducing the cost of trade and total expected income would be over $3.5 billion, over the next twenty years, the secretary elaborated.

[Don]

Re: $1bn deep water port agreement signed.

Aalsi, an opening has suddenly opened for you. You should apply immediately. In fact, no need to apply either, you are the only one willing to do the job. You can start right now. This job pays $1.2 million. You can probably do it for far less (or free!).

http://www.paklinks.com/gs/showthread.php?t=269119

Cheers!!

[Captain1]

Re: $1bn deep water port agreement signed.

What is deep water port? Is it a port away from shore? What happened to Gawadar, is that not going to be a port anymore?

[Rebel_X]

Re: $1bn deep water port agreement signed.

Interesting news, and almosyt 50% foriegn investment, not bad.

[Aalsi]

Re: $1bn deep water port agreement signed.

@Don

Aalsi, an opening has suddenly opened for you. You should apply immediately. In fact, no need to apply either, you are the only one willing to do the job. You can start right now. This job pays $1.2 million. You can probably do it for far less (or free!).

http://www.paklinks.com/gs/showthread.php?t=269119

Cheers!!

Lol. You have a great sense of humour Don Bhaijan. You should post more often.

By the way, what is wrong with promoting ones nation, or highlighting the positives.

There are many many people that are ready to slag off the nation at any opportunity they get. They can carry on.

[Captain1]

Re: $1bn deep water port agreement signed.

By the way, what is wrong with promoting ones nation, or highlighting the positives.

Highlighting positives and goods is one thing, praising a dictatorship is another.

[Aalsi]

Re: $1bn deep water port agreement signed.

Highlighting positives and goods is one thing, praising a dictatorship is another.

Sure. It is all very well sitting in the West and seeing everything through rose tinted glasses.

Accept the fact that Pakistan has never developed as much as it has done under the so called dictatorship of President Musharaf.

God Bless President Musharaf for all the good has has done for the nation, which the so called democratic leaders never did.

[Captain1]

Re: $1bn deep water port agreement signed.

Sure. It is all very well sitting in the West and seeing everything through rose tinted glasses.

Accept the fact that Pakistan has never developed as much as it has done under the so called dictatorship of President Musharaf.

If I had no family in Pakistan, had not visited Pakistan so frequently I could've given a benefit of doubt. The economy has grown, I wouldn't challenge much of that, but institutions for democracy have all but been shattered, we are living on adhocism. We can praise all the developments but since they are not supported by a cross-check-balance system these developments will not go too far.

[Aalsi]

Re: $1bn deep water port agreement signed.

We can praise all the developments but since they are not supported by a cross-check-balance system these developments will not go too far.

Yaar, if you and are still alive in 10 years time, we can revisit the subject of how far the developments have gone, the ones that have been taking shape for the past 8 years and will continue to do under the leadership of President Musharaf.

Let's take one step at a time. Let the economic growth continue to flourish.

Inshallah Gupshup will still be as vibrant as it is today in ten years time, and you and I will be happy to discuss the benefits of the foundations for the economic growth that are being laid.

God Bless Gupshup. God Bless Pakistan. Here's to the next ten years. Cheers.

[smooth_guy]

Re: $1bn deep water port agreement signed.

I see Aziz/Tareen/Chaudhries brushing their teeth for a big bite.

[Aalsi]

Re: $1bn deep water port agreement signed.

Interesting news, and almosyt 50% foriegn investment, not bad.

Yes, not bad indeed.

[Reza_Pahlavi]

Re: $1bn deep water port agreement signed.

The PDWCP project is estimated to cost US$1 billion, out of which $457 million will be foreign direct investment (FDI) and the remaining to be invested by the KPT,

Excellent news - more FDI. :k:

[coffee_cake]

Re: $1bn deep water port agreement signed.

This aspect of present governments rule has been impressive. No one can deny this. In 1999 pak economy was $80 billion and now its about 150 bn dollars. this is massive growth, ave 7%+.

[Aalsi]

Re: $1bn deep water port agreement signed.

@coffee_cake

This aspect of present governments rule has been impressive. No one can deny this. In 1999 pak economy was $80 billion and now its about 150 bn dollars. this is massive growth, ave 7%+.

Long may it continue. Ameen. :k:

[Reza_Pahlavi]

Re: $1bn deep water port agreement signed.

@coffee_cake

This aspect of present governments rule has been impressive. No one can deny this. In 1999 pak economy was $80 billion and now its about 150 bn dollars. this is massive growth, ave 7%+.

Yep, so true. :k:

[Reza_Pahlavi]

Re: $1bn deep water port agreement signed.

HPH to Build New Container Terminal in Karachi

http://www.hph.com.hk/images/news/hph-8nov07-1.jpg

http://www.hph.com.hk/images/news/hph-8nov07-2.jpg

**Photo caption: #1 & #2 John Meredith (front right), Group Managing Director of HPH and Vice Admiral Ahmad Hayat (front left), Chairman of Karachi Port Trust, are signing the concession agreement for the first phase of Pakistan Deep Water Container Port. The ceremony is presided over by General Pervez Musharraf (middle, back), President of Pakistan, Senator Babar Khan Ghauri (President’s right), Federal Minister for Ports and Shipping of Pakistan and James Tsien, Group Executive Director of HPH. **

[November 8, 2007 - Hong Kong] Hutchison Port Holdings (“HPH”), the world’s leading port investor, developer and operator, is pleased to announce that it has signed an agreement with Karachi Port Trust to build a new container terminal in Keamari Groyne. The new terminal will be the first phase of the latest Pakistan Deep Water Container Port (“the Port”) in Karachi. HPH was chosen as the winning bidder for the project last month. The concession-signing ceremony was presided over by General Pervez Musharraf, President of Pakistan.

Karachi New Port Container Terminals, the newly established joint-venture company, will build and manage the new container-handling facility over a concession period of 25 years, extendible for another 25 years. The new terminal is expected to be operational in 2011. Commenting on the new port project, John Meredith, Group Managing Director of HPH, said, "Pakistan’s economy has grown significantly over the past five years, achieving solid GDP growth and double-digit cargo volume increase. This growth is expected to continue due to a strong economy that has enhanced the country’s trade activities in the region and resulted in the steady growth of cargo movement in Karachi. Through the development of Karachi New Port Container Terminals, HPH will strengthen its services to global carriers and shippers with the capability of handling the largest container ships afloat, while ensuring the Port’s premier status within Pakistan."

Vice Admiral Ahmad Hayat, Chairman of Karachi Port Trust said, “The development of Pakistan Deep Water Container Port is a significant event in the region being the deepest port, catering for the next generation of container ships. We are glad that HPH is partnering with us in this mega project and have full confidence that HPH, being a major terminal operator in the world, would ensure its success.” Upon completion, Karachi New Port Container Terminals will have four berths with a total quay length of 1,500 metres, a yard area of 85 hectares and depths alongside up to 18 metres.

http://www.hph.com.hk/news/news_room/hph-8nov07.htm