PSA tops Gwadar Port race

Karachi: A consortium, led by Singapore port operator, PSA International, has submitted the highest bid to manage Gwadar Port, but the tender has not yet been awarded, a port official said on Tuesday.


'We cannot give the figure quoted by PSA International until the negotiations are final, but it the highest and successful bidder,' the official of Gwadar Port Implementation Authority said. The PSA bid was accepted at the weekend.


China provided $198 million for $248 million port project. It is scheduled to begin operations next year. Under the concession, the winning bidder will take over the operation and management of the port for 40 years.


The port official said the offer from the runner-up - Pakistan International Container Terminal - was 'far behind' that of the Singaporean operator. 'We are in the process of finalising technical and financial terms and conditions, and will take a decision very soon,' he said. Pakistan's AKD Group is part of the Singapore consortium.