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 (rtd) 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 tons of coal, cement and clinker annually. About 460 meters long jetty will have a depth of 15 meters to handle large ships of upto 75,000 deadweight tonnage. This will be connected to a back up area of 25 hectares with a 2.5 kilometers trestle. Speaking on the occasion, 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. He said PQA is trying its best to provide all facilities to investors and become users friendly. Chairman Marine Group of Companies Capt Haleem A Siddiqui said that his group has never missed a single opportunity for investment in port sector since its inception. He said that his terminal Pakistan International Container Terminal (PICT) operating at Karachi Port has been declared as the best three terminal in the region by the Llyods List. He said that his company has means of financing, competence and expertise to challenge any terminal in Pakistan in terms of equipment, software and handling capabilities. He thanked Port and Shipping Minister and Secretary P & S for facilitating the project to reach singing of IA with PQA. Siddiqui said that PIBT has submitted the largest performance bond of $ 2.5 million or Rs 214 million with PQA at the signing ceremony.