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- Pakistan International Container Terminal - Phase IV
Pakistan International Container Terminal - Phase IV
Pakistan
| Borrower | Pakistan International Container Terminal |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Transportation |
| Approved | 18.06.2008 |
| Signed | 31.07.2008 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| Co-financiers | IFC, PICT |
| OPEC Fund Contribution (US$m) | 3.00 |
Pakistan International Container Terminal Limited (PICT) operates a ship-to-shore container terminal at Karachi Port, which as the dominant port in the country, handles 80% of Pakistan’s container volume. This loan – the fourth from OFID to support the development of PICT – will be used to part finance the company’s latest expansion program. Specifically, the funds will be used for civil works and the acquisition of new gantry cranes to help raise the terminal’s handling capacity to 750,000 container units per year. Improving the efficiencies of the port will stimulate trade and generate substantial benefits to the economy.