Pakistan International Bulk Terminal Limited (PIBT) has executed a Supplemental Implementation Agreement with the Port Qasim Authority to obtain additional concessions, rights, and licences for handling mineral commodities, the company disclosed to the Pakistan Stock Exchange (PSX) on Monday.
In its notice, PIBT stated that the agreement allows the company to cater for the handling, storage and export of copper-gold commodities, including minerals, metals, and other natural earth commodities on non-exclusive basis.
The company also informed the exchange that it has signed a separate agreement with Reko Diq Mining Company (Private) Limited. According to the disclosure, “the company has also executed an agreement with Reko Diq Mining Company (Private) Limited for the handling of its cargo concentrate.”
Pakistan International Bulk Terminal Limited was incorporated on March 22, 2010, as a private limited company under the then Companies Ordinance, 1984, now replaced by the Companies Act, 2017.
The company entered into a Build-Operate-Transfer (BOT) agreement with the Port Qasim Authority on November 6, 2010, for the construction, development, operation, and management of a coal and clinker/cement terminal at Port Muhammad Bin Qasim for a period of 30 years. Upon expiry of the concession, all project assets will be transferred to the Port Qasim Authority.
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