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- Pakistan International Container Terminal (PICT) - Phase III
Pakistan International Container Terminal (PICT) - Phase III
Pakistan
| Borrower | Pakistan International Container Terminal |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Transportation |
| Approved | 20.12.2005 |
| Signed | 21.03.2006 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| Co-financiers | IFC, Lease financing, Equity |
| OPEC Fund Contribution (US$m) | 3.00 |
In a three-phase development, Pakistan International Container Terminal Limited (PICT) has established and now operates a ship-to-shore container terminal in Karachi Port. The OFID loan forms part of a $17 million financing package and will be used to partially finance civil works together with the acquisition of new gantry cranes. The port sector is one of the most important in Pakistan. As the dominant facility in the country, Karachi Port handles 80% of the container volume, and improving its capacity and efficiency will help stimulate trade and generate substantial benefits to the economy