Pakistan’s first Sea cargo terminal becomes operational

There is good news coming as the country is getting constructive development projects. Pakistan International Bulk Terminal (PIBT) started its operations at Port Qasim recently and it was a huge success right from the very first day. The first cargo handled was a coal cargo vessel of more than 41,000 tones. The first ever ship that was given berth was named African Finfoot which was 200 meters long, 32 meters wide and having dead weight of 61,219 tones.

PIBT situated at Port Qasim also gave birth to another vessel named Iris Oldendorff, loaded with 39,550 tons of coal on Tuesday. This is a good sign for the economic stability of the country as more and more cargo activities will take place at the terminals. Companies like Pakistan Cargo 4 U can play important role in shifting the cargo through this port.

Port Qasim gets advantage over Port Karachi

PIBT is a fully automated terminal that is capable of handling coal, clinker and cement in two days. Karachi port, on the other hand is capable of handling cargos in almost seven days. The two ports when compared can clearly depict the worth of this new state of the art cargo terminal. The terminal is capable of handling 12 million tons of cargo a year and has a storage yard spread over 62 acres.

The PIBT has a 30-year BOT (built-operate-transfer) agreement with Port Qasim authority. The company has two coal ship unloading cranes and one cement/clinker loading crane. With the start of bulk operations on Port Qasim, the excessive burden of handling cargo at Karachi port has somehow being lifted. The cargo is now efficiently being handled at Port Qasim.

Details about the company

Pakistan International Bulk Terminal Ltd (PIBTL) is a public listed company quoted on the Pakistan Stock Exchange and is mainly sponsored by the Marine Group of Companies. The terminal is partly financed by the International Finance Corporation which is the private sector arm of the World Bank. According to reports, the company has invested a fat amount of money i.e. about $285 million in developing and setting up the terminal.

Now we can see it in a working condition. The company is expected to align the cargo handling in the country in accordance with the international standards and attract foreign investors by showing a positive image of the country. It is very necessary to ensure traders and investors that it is safe to invest here otherwise; we will miss on many opportunities to flourish. Trade is also a way of strengthening bonds between countries. It helps introduce people to new cultures.

Benefits of this project

If this project succeeds to portray safe investment in Pakistan, chances are that we will see a huge leap in economy of the country and several other sectors including trade and industry. Economic growth is also a manifest of more job opportunities.

A positive trend in economy also becomes a source of relief for the people too. Doors to foreign investment are also opened creating a soft image of the Pakistani country in the world.