Deal signed for coal, cement terminal

KARACHI: An agreement was signed on Saturday for the development of the country’s first mechanised and fully automated coal, cement and clinker terminal on a 30-year Build, Operate and Transfer (BOT) basis.

Chairman of Port Qasim Authority (PQA) Vice Admiral M Shafi and Chief Executive Officer of Pakistan International Bulk Terminal Limited (PIBTL) Sharique A Siddiqui signed the implementation agreement.
The terminal construction will cost around $173 million. It is expected to become operational in three years with an initial project cost of $140 million.

Thar Coal: A gateway to energy for Pakistan – I

Coal trucks drive along a road leading to a mine. – Reuters (File Photo)

 

Pakistan is marred by an energy crisis that has no precedent in its 63-year history. Although, blessed by natural resources, the country has failed to utilise its reserves for the enhancement of its industry and economy. Since the past three years, due to improper planning, lack of long-term strategies, and an increasing circular debt, our energy generation capacity has decreased to dangerously low levels, while the demand is only increasing. As a result, over a billion rupees are lost each year in the frequent power outages (load-shedding) that occur every day throughout the country.