Hutchison Ports Pakistan, the country’s first deepwater container terminal, is expected to complete the second phase of its $600 million project by the next yearend to more than double the handling capacity. Phase II is planned to be completed by the end of 2020.
According to Rashid Jamil, general manager of Hutchison Ports Pakistan, the first phase of Hutchison Ports began its operations in February 2017, and at present it has the annual handling capacity of 1.5 million TEUs.
According to the Tribune, Jamil added that based on the country's commercial needs, there's a possibility of deepening the port to 18 metres in the future, two metres more from now.
The overall cost of the project would reach the $1.4 billion, which includes KPT’s share of $800 million and Hutchison Ports Pakistan’s (HPP) contribution over $600 million.
Prior to these projects, Pakistan was unable to handle containerised vessels of more than 8,000 TEUs.
Hutchison Ports is the port and related services division of CK Hutchison Holdings Limited. It is the world’s leading port investor, developer and operator with a network of 51 ports, spanning 26 countries across Asia, the Middle East, Africa, Europe, the Americas and Australasia.