Draft:Pakistan International Bulk Terminal
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Pakistan International Bulk Terminal Limited (PIBT) is a dry bulk terminal at Port Qasim. It is the first dry bulk terminal at Port Qasim that handles cement, clinker, and coal. PIBT started operations in March 2017..[1]. Pakistan International Bulk Terminal is listed on Pakistan Stock Exchange (PSX: PIBTL) [2].
Corporate Information
[edit]Pakistan International Bulk Terminal Limited (PIBT) was incorporated on March 22, 2010 as a private limited entity. On December 23, 2013 PIBTL started trading at Pakistan Stock Exchange (PSX: PIBTL) [3] [4].
Pakistan International Bulk Terminal Limited operates a coal and cement/clinker bulk terminal at Port Qasim under a Build, Operate, and Transfer (BOT) concession spanning 30 years. After the term PIBT will transfer all the terminal assets to Port Qasim Authority [2] [3].
The OPEC Fund for International Development was one of the early investors in Pakistan International Bulk Terminal with a loan of $20 million. The loan was signed on July 12, 2012. The co-financiers comprised of banks operating in Pakistan namely Bank of Punjab, IFC, NIB Bank Limited, Sponsor Equity, JS Bank Limited, Askari Bank Limited, Sindh Bank Limited, Faysal Bank Limited, Al-Baraka Bank, Meezan Bank, and Dubai Islamic Bank [5].
PIBT had spent about $285 million in the infrastructure and superstructure developments by May 2017 [6]. Initially key investments were made by the Marine Group of Companies and the International Finance Corporation [7].
Bulk Handling Operations
[edit]Pakistan International Bulk Terminal Limited (PIBT) has a current capacity to handle up to 12 million tons of coal and 4 million tons of cement and clinker per annum. The combined dirty bulk handling capacity can be increased up to 20 million tons per annum. PIBT meets the coal demands of power and cement plants via the rail and road networks across Pakistan [8].
PIBT is equipped with conveyors that transfer bulk to a storage yard that is spread over 250,000 square meters [8] or around 62 acres [7]. The terminal has mechanized truck loading facility to load two trucks simultaneously at a drop of 100 tons per minute [8]
PIBT received its first vessel, namely MV African Finfoot, with 41,510 tons of coal in May 2017 [6]. A second vessel called MV Iris Oldendorff with 39,550 metric tons of coal also docked in the same month. At the time a similar volume of cargo was handled by PIBT's mechanized operations within 2 days whereas it would take up to 7 days at non-mechanized bulk terminals at Karachi Port [9]
References
[edit]- ^ Reuters (2017-02-03). "Pakistan's first dry bulk terminal will open in March". DAWN.COM. Retrieved 2024-03-08.
{{cite web}}:|last=has generic name (help) - ^ a b "PIBTL - Stock quote for Pakistan International Bulk Terminal - Pakistan Stock Exchange (PSX)". dps.psx.com.pk. Retrieved 2024-03-08.
- ^ a b "New beginnings: PIBT makes it to the stock exchange". The Express Tribune. 2013-12-17. Retrieved 2024-03-08.
- ^ "PIBTL.PK | Pakistan International Bulk Terminal Ltd. Annual Balance Sheet - WSJ". www.wsj.com. Retrieved 2024-03-08.
- ^ "Pakistan International Bulk Terminal Limited (PIBT) - OPEC Fund for International Development". opecfund.org. Retrieved 2024-03-08.
- ^ a b "Hot commissioning begins PIBTL handles first vessel with 41,000 tons of coal". www.thenews.com.pk. Retrieved 2024-03-08.
- ^ a b Reporter, The Newspaper's Staff (2017-05-04). "Dirty cargo terminal handles first vessel". DAWN.COM. Retrieved 2024-03-08.
- ^ a b c "Pakistan International Bulk Terminal Limited". Retrieved 2024-03-08.
- ^ "Pakistan's first coal, cement terminal begins operation". The Express Tribune. 2017-05-03. Retrieved 2024-03-08.