27930 - QICT

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Summary of Proposed Investment

Project Number

27930

Company Name

QASIM INTERNATIONAL CONTAINER TERMINAL PAKISTAN LIMITED

Date SPI Disclosed

May 5, 2009

Country

Pakistan

Industry

Infrastructure

Projected Board Date

Oct 12, 2009

Status

Completed

Sector

Port and Harbor Operations

Date Revised SPI Disclosed

Mar 4, 2013

Department

Regional Industry INF MCT

Environmental Category

B - Limited

Previous Events

Approved : Oct 12, 2009
Signed : May 27, 2010
Invested : Sep 27, 2010

Project Description

Qasim International Container Terminal Ltd. (“QICT”or the “Company”) operates a container terminal at Port Qasim approximately 50 km southeast of Karachi, Pakistan. QICT is the leading container terminal operator in Pakistan with a market share of 36% in 2008. Container volumes passing through Pakistan’s ports have increased significantly in recent years and are expected to reach the limits of the existing ports in the coming years. In order to accommodate this increase in demand, QICT is developing a new container terminal adjacent to its existing terminal at Port Qasim. Upon completion, the new terminal will have a draft of 14 m and the latest container handling equipment, enabling it to serve today’s large containerships and help address the projected shortage of container handling capacity in Pakistan.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	30.0
Equity

Development Impact

The project will help strengthen the port sector in Pakistan by increasing container handling capacity and improving efficiency levels at QICT. The increased capacity at QICT will help ease congestion otherwise expected in the near future as traffic at QICT and the other Karachi container terminals reaches capacity. The accompanied improvements in service levels will benefit port users including shipping lines, exporters, and importers. The project will also create direct and indirect employment opportunities and increase revenues for the Government of Pakistan through higher tax payments and royalty and lease payments.

IFC will be providing long-term financing at a maturity necessary for the project’s completion but unavailable in the commercial market. IFC’s involvement will also help send a positive signal to other lenders and improve the terms of the local financing for the project. IFC’s support is increasingly important during the current scenario of global economic crisis. In this case, IFC is not only supporting private sector led growth in infrastructure, but also playing a counter cyclical role in promoting foreign direct investment in a less than optimal environment.

This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental impacts may result, which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Additional details on IFC''s review of this project may be found in the Environmental and Social Review Summary (ESRS) for the investment, which is also available on IFC''s website.

Contacts

For Inquiries About the Project, Contact

Mr. Shahid Iqbal
Chief Financial Officer
Qasim International Container Terminal
Berths No. 5-7 Marginal Wharves
Port Qasim Karachi - 75020
Pakistan. P.O.Box 6425

Tel: +92 21 4739052
Fax: +92 21 4730053
Email: mailto:Shahid.Iqbal@dpworld.com

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

Capt. Karamat Ali
General Manager Health, Safety, Training & Environment
Qasim International Container Terminal
Berths No. 5-7 Marginal Wharves
Port Qasim Karachi - 75020
Pakistan. P.O.Box 6425
Telephone: +92 21 4739100 Ext. 282

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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