A SUBSIDIARY of International Container Terminal Services, Inc. (ICTSI) on Monday said it launched a dedicated rail cargo service connecting Karachi and Lahore in Pakistan.
In a statement, Pakistan International Container Terminal (PICT) said the cargo rail service will “move goods faster and at a significantly lower cost to upcountry markets, benefiting major industries” such as agriculture, textile, fertilizer, sports goods, electronics and fast-moving consumer goods.
PICT said it is now the only terminal at the Port of Karachi that has its own internal rail connection.
“PICT hopes to be the container terminal of choice for trade at the Karachi Port… This rail service provides us with more efficiency and flexibility. As an alternative, rail transport, this reduces the cost of doing business for clients. At the same time, this helps alleviate congestion on the city roads,” Khurram Khan, PICT chief executive officer, said.
ICTSI acquired a majority stake in PICT in October 2012. PICT holds a 21-year concession for the construction, development, operations and management of a common user container terminal at Karachi Port for a period of 21 years, which started in 2002.