Port Qasim Authority Allows PIBTL to Set up LPG Handling Facilities

In a notice informing the exchange, Pakistan International bulk Terminal (PIBTL) has informed that “The Port Qasim Authority (PQA)” has allowed the company to setup Liquefied Petroleum Gas handling facilities at its existing facilities. A supplementary Implementation Agreement will be executed with the PQA.

A separate notification filed by PIBTL revealed the extent of shareholding of Jahangir Siddiqui and Co Ltd in the company, which amounted to a total of 158,830,638 ordinary shares.

Pakistan International Bulk Terminal Limited engages in the construction, development, operation, and management of a coal, clinker, and cement terminal at Port Muhammad Bin Qasim on build, operate, and transfer basis. Pakistan International Bulk Terminal Limited was incorporated in 2010 and is headquartered in Karachi, Pakistan.

Port Qasim Authority provides port services in Pakistan. The company offers sea-borne trade handling, cargo handling, and warehousing services. It also engages in the provision of land and infrastructure facilities for the establishment of port based industrial and commercial units. The company is based in Karachi, Pakistan.

On the 9th of November, the company announced that PQA issued a certificate of successful completion to PIBTL for completion of Coal Handling Plant System, certifying the project to be complete in all respects.

PIBTL handled more than 308,000 tons of Cargo during the first quarter of FY 2018 whereas the company reported a Net Loss after Tax of Rs. 1.158 billion with an Earnings per Share of -0.78/share.

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