KARACHI: Pakistan International Bulk Terminal Ltd (PIBT) has signed Implementation Agreement (IA) with Port Qasim Authority (PQA) for establishing $173 million coal and clinker/cement terminal at Port Qasim. The agreement was signed by chairman PQA vice admiral (Retd) Mohammad Shafi and CEO PIBT Sharique A Siddiqui at a local hotel here Saturday. Pakistan’s first ever dedicated bulk cargo project is expected to come into operation in next three years at an initial cost of $140 million on built operate and transfer (BOT) basis to handle 8 million tonnes of coal, cement and clinker annually. About 460 meters long jetty will have a depth of 15 meters to handle large ships of up to 75,000 deadweight tonnage. This will be connected to a back up area of 25 hectares with a 2.5 kilometers trestle. PQA chairman said that this is the largest investment in Port Qasim in terms of infrastructure and it has a distinction of being totally a sponsored’s owned project with local expertise. He pointed out that 176 industrial and commercial units are operational in PQA industrial zone while 274 are at various stages of construction. Admiral Shafi invited investment from private sector in the industrial zone of PQA with specific mention to energy project including energy terminal and maintenance yards.-APP