| Pakistan International Container Terminal | |
| Type: | Public |
| Location: | Karachi, Pakistan |
| Parent: | International Container Terminal Services |
Pakistan International Container Terminal (PICT) is a container terminal port located located at berths 6-9 on the East Wharf of the Port of Karachi.[1]
Pakistan International Container Terminal (PICT) was established in 2002 on build–operate–transfer basis.[2] It was a joint venture between Premier Mercantile Services and Hamburg Port.[1] The total cost of the project was estimated at $75 million out of which $9.25 million was funded by the International Finance Corporation in form of loans.[1] [3] The funds were used to acquire container handling equipment and quay cranes.[1]
In 2003, PICT was listed on the Karachi Stock Exchange, following an initial public offering.[4] [5]
In April 2004, the first phase of the project became operational at a cost of $30 million.[3] [6]
In April 2012, International Container Terminal Services acquire 35 percent of the PICT.[7] As of 2012, it has a maximum handling capacity of 750,000 TEUs.
In June 2023, PICT successfully completed its twenty-one year concession agreement with the Karachi Port Trust (KPT) and the terminal was transferred to KPT accordingly.[8]