ISLAMABAD, PAKISTAN — Pakistan plans to invest nearly $200 million to build the country’s second port grain terminal at in Karachi, according to a Bloomberg report.
Rashid Siddiqi, executive director of the state-run Pakistan National Shipping Corp. (PNSC), told Bloomberg the project is expected to be completed within a year.
He said the nation’s only dedicated grain terminal at the Port of Qasim is struggling to meet demand for shipping oilseeds, cereals and fertilizer, with ships having to wait up to three weeks to unload cargo.
“The terminal, once established, will divide the shipping traffic load at Port Qasim,” Siddiqi told Bloomberg.
The proposed terminal, which has been presented to port and federal government officials for approval, will have a cargo handling capacity of up to 1,600 tonnes per hour, he said.