KPT plans multi-billion dollar LNG complex

KARACHI: The Karachi Port Trust (KPT) has planned a multi-billion dollar LNG Complex at the deep seaport, comprising LNG import terminal, storage and re-gasification unit, and a combined cycle LNG-fuelled power plant to support desalination, KPT Chairman Rear Admiral Jamil Akhter said on Friday.

Speaking at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Akhter said KPT had also planned a freight corridor linking Karachi port and Port Qasim through the sea via railway link, and road and oil/gas pipelines.

“A couple of state-owned Chinese companies have reviewed these projects and expressed keen interest in developing the same. These Chinese companies have submitted their proposals as well in this regard,” the chairman said, “We have proposed that these projects may be included in China-Pakistan Economic Corridor (CPEC) so that these projects could be executed through a government to government contract.”

He also informed that Chinese companies were conducting feasibility study for shuttle freight train from Karachi port to the vicinity of Dhabeji industrial zone. “The plan is to setup a freight station cum distribution centre on the outskirts of Karachi, and carryout the cargo of KPT through train, providing relief to the city’s roads,” Akhter said, and informed that PNSC chairman had assured of support including resources and technical assistance in this regard.

Federal Minister for Foreign Affairs and Maritime Affairs Abdullah Hussain Haroon said ports played an important role in the economic development of the country. Talking about the country’s economic situation, he said the government would have to act in accordance with the fundamentals.

FPCCI President Ghazanfar Bilour in his welcome address highlighted the role FPCCI in the economic and social development of the country, and urged the minister to enhance commercial relationship with Europe and US.

“The government should take measures to increase exports, and in this regard the role of commercial councillors is very important,” he said, urging to tap the African and other regions. “Pakistan should focus on trade agreements across the world, including with the US to increase exports,” Bilour added.

FPCCI Vice President Tariq Haleem said Pakistan’s maritime, seaboard and logistics sectors had enormous potential to earn for the country, however, these sectors were not harnessed and needed the government’s immediate attention.

“Lack of general awareness, absence of right policies, high cost of doing business and counterproductive regulations are the impediments that need to be addressed,” Haleem added.