KARACHI, June 18: Karachi Port Trust (KPT) and Premier Mercantile Services (PMS) on Tuesday signed an implementation agreement for setting up a container terminal at berths 6-9 of the KPT on build operate and transfer (BOT) basis.

KPT chairman Rear Admiral Ahmad Hayat and PMS director Capt. Haleem Siddiqui signed the agreement on behalf of their organisations.

The foundation stone for the terminal had already been laid on April 15, 2002 by Communications and Railways Minister Javed Ashraf Qazi.

The state-of-the-art container terminal with four gantry cranes having 46 metre reach, 10 rubber tyre gantries and associated equipment, is being set up at 600 metre long 13.5 metre deep berth 6-9 at East Wharves. The cost of the project is $65 million with most of the investment coming from abroad.

With deepening of channel, KPT will have a definite edge over others in its facilities for efficient and market-oriented services, including transshipment, the KPT chairman said.