Page 431 - MOE ENGLISH PR REPORT- NOVEMBER 2024

In February 2024, the Group signed a 25-year concession agreement with the Pakistani federal
agency that oversees Karachi Port, the Karachi Port Trust (KPT), to develop, operate and manage
bulk and general cargo terminal berths 11-17 at Karachi Port’s East Wharf.

As majority shareholder in a joint venture with Kaheel Terminals of the UAE, the venture agreed to
invest $75 million over the next two years in superstructure and equipment, followed by $100
million within five years to increase efficiency and capacity by 75 percent, enabling the terminal to
handle up to 14 million tonnes per annum.

The agreement built upon an earlier 50-year concession agreement secured by AD Ports Group in
June 2023 to develop, operate and manage Karachi Gateway Terminal Limited (KGTL) container
terminal berths 6-10 at Karachi Port’s East Wharf. With Kaheel Terminals, AD Ports Group agreed to
invest $220 million in the project over 10 years.

https://en.aletihad.ae/news/business/4528201/uae-s-ad-ports-group--pakistan-government-sign-
4-mous-to-enh