Wish to lease Karachi port terminals by UAE for 50 years

Web DeskJune 22, 20235952 min
Wish to lease Karachi port terminals by UAE for 50 years

The Abu Dhabi Ports Company has offered to pay Pakistan $50 million in advance for all permanent equipment and infrastructure at the port terminals. According to the planned agreement, the UAE company will pay a royalty charge of $18 per cross-berth and a cost of $3.21 per square meter

Every three years, there will be a 5% increase, with the first adjustment three years following the start of operations. The UAE corporation has committed to invest $100 million over the next five years in addition to paying Rs. 2 billion in legal fees.

Also Read : Pakistan Government Takes Steps to Transfer Seaports to UAE

If the agreement is accepted, Abu Dhabi Port reserves the right to change its container handling prices at any time. If the fee increase exceeds 15%, the UAE government would seek permission from Karachi Port

The agreement provided for a 50-year term, while some cabinet members suggested two periods of 25 years each. Other ideas submitted in this regard offered to handle conflicts arising from this Agreement through arbitration in accordance with

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