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July 28, 2015
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South Korea shows interest in KPT projects

Business

July 28, 2015

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KARACHI: South Korean government has expressed interest in becoming a strategic partner of Karachi Port Trust (KPT) for the investment and joint venture in the planned elevated port expressway project, officials said on Monday.
A delegation of Korean Ministry of Oceans and Fisheries visited KPT on Monday to explore business opportunities offered by the stat-run port.
“They showed keen interest in planned projects like elevated port expressway, multipurpose bulk, coal terminal, industrial park and cargo village and the port authorities have also offered investment opportunities to the Korean government,” the official said.
The newly planned elevated port expressway project is a substitute of the mega suspension harbour crossing bridge planned in 2006 and was to be built from under construction Pakistan Deep Water Container Port, crossing over the sea to connect Keamari with Manora end at the Northern Bypass. The mega project has been shelved due to its viability and the port authorities have chalked out the new project elevated port expressway to be built from Pakistan Deep Water Container Port to Northern Bypass.
The KPT has also issued a new tender for multipurpose bulk and coal terminal earlier this month. The project is to be on built, operate and transfer basis.
The port authorities have also asked the Korean delegation to review and update the feasibility report of planned industrial park and cargo village.
Chairman KPT, Vice Admiral Shafqat Jawed said joint business opportunities and investment will strengthen the relations of the two maritime nations.
Jawed briefed the delegation about the infrastructure of the port, informed the Korean delegation that the port is well equipped with dredgers, flotilla crafts and has complete infrastructure to facilitate port users.
“Recent dredging had made the port capable of handling 13 meters draught vessels,” Jawed informed the delegates about the depth of the country’s

premier Karachi Port channel.
The Korean delegation was led by Port Investment Cooperation Division Director Hi Young Lee. Participants included Port Investment Cooperation Division Deputy Director Kyuhwan Ko, IL JIN International Co Ltd Representative Director Hwang Beom Ryu, SEIL Engineering Company President Jumin Song, SEIL Engineering Company Director Youngkil Hyun, GIA Company President Kyu Sung Lee, Madina Trading Co Ltd President Nawaz Jan Muhammad, Korea Ports and Harbours Association Team Leader Yongwong Kim, and ex-Ambassador to South Korea Shaukat Ali Mukadam. The delegates were given a complete briefing on the present and future projects of the KPT.

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