KARACHI: Karachi Port Trust (KPT) deep-draft containers terminal will be inaugurated this month.Sources said that the work on this project could not be started, despite an agreement was made two and a half year ago due to technical difficulties, dredging more than earlier estimated and larger proportion of foreign exchange component.
KPT General Manager (planning and administration), Brigadier Jamshed Zaidi said that KPT gets its revenue in foreign exchange and, therefore, the objection on more foreign exchange has been removed. He said that the dredging work has started under the project at a cost of Rs19.50 billion, which was Rs2 to Rs2.5 billion more than the initial estimate.
He further said that the total cost on the project would be $700 million, out of which $100 million would spent by the contracting firm, while rest of the mount would be arranged by KPT from its own resources.
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