Prime Minister, Shahid Khaqan Abbasi has formally inaugurated the most advanced first kind of deep water container terminal in the region at the Karachi Port Trust (KPT).
The high-tech terminal was built at a cost of $1.4 billion.
“The Deep Water Container Terminal has made Pakistan a major hub for regional countries,” he said, adding that the port would also connect Pakistan to the rest of the world.
It is capable of handling mother vessels having a loaded capacity of up to 18,000 20-foot containers, terminal officials reported earlier.
The port has a capacity of handling 3.1 million TEUs (Twenty Feet Equivalent Unit) per annum, higher than the previous capacity of all container terminals in the country of 2.5 million TEUs.
The terminal was named as Hutchison Ports Pakistan, which is a public-private partnership of Karachi Port Trust (KPT) and Hong-Kong-based Hutchison Ports.
“The terminal will be a key component (of the) overall CPEC system, assisting and facilitating CPEC developments in Pakistan, which governments of both Pakistan and China are pursuing vigorously,” Abbasi said.