Pakistan: Karachi Port Trust

Sovereign Project | 44365-012

Summary

The TA was initially to (i) rationalize KPT's current business strategy and future investment plans; and (ii) build its financial planning and forecasting capacity. In addition, the TA was to prepare a 5-year business plan and 15-year financial projections of KPT to further update KHC's initial feasibility study (FS) prepared by KPT's Technical Consultants in 2008. Following the early fact finding and due diligence missions, it was decided to rescope the TA by focusing on the bankability of the KHC project on a non-recourse, limited recourse, or full recourse basis.

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Project Name Karachi Port Trust
Project Number 44365-012
Country Pakistan
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7726-PAK: Karachi Port Trust
Technical Assistance Special Fund US$ 225,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector Transport - Water transport (non-urban)
Gender Equity and Mainstreaming Some gender elements
Description The TA was initially to (i) rationalize KPT's current business strategy and future investment plans; and (ii) build its financial planning and forecasting capacity. In addition, the TA was to prepare a 5-year business plan and 15-year financial projections of KPT to further update KHC's initial feasibility study (FS) prepared by KPT's Technical Consultants in 2008. Following the early fact finding and due diligence missions, it was decided to rescope the TA by focusing on the bankability of the KHC project on a non-recourse, limited recourse, or full recourse basis.
Project Rationale and Linkage to Country/Regional Strategy The TA will help establish the bankability of the Karachi Harbor Crossing Project.
Impact Improved efficiency of Karachi Port operations.
Project Outcome
Description of Outcome Established bankability of the Karachi Harbor Crossing Project.
Progress Toward Outcome The consulting services for the corporate strategy study and financial analysis of the Karachi Port Trust (KPT) are ongoing/on track.
Implementation Progress
Description of Project Outputs

KPT credit analysis

15-year and 30-year corporate finance and project finance models

Detailed outline of KPT's multi-year Investment Strategy and Business Plan

Report on KHC's bankability structured as KPT corporate finance or KHC project finance under different KPT and KHC growth scenarios and PPP modalities

Status of Implementation Progress (Outputs, Activities, and Issues)

The original TA outputs were: (1) KPT's 5-year business plan; (2) KPT's 15-year financial projections; (3) bidding document for EPC contract; (4) bidding document for O&M contract.

(1)/(2) TA scope was revised in order to avoid duplication of efforts (given that the World Bank was concurrently providing support to produce a 10-year Business Plan, the production of the earlier proposed 5-year Business Plan has been dropped). Under the revised TA scope, fact-finding consultations with various stakeholders are ongoing to make further progress in determining whether KPT's Karachi Harbor Crossing (KHC) Project can be financed on a non-recourse, limited resource, or full recourse basis. STA Completion Report was to be delivered 30 June 2011 (under the project finance options, the financial projections will range from 25 to 30 years). However, KPT's technical consultants have been delayed in carrying out their additional work, including a revised traffic count analysis and __ survey. As these results are now expected by mid-October , the TA consultants are expected to deliver their STA completion report by 30 November 2011. Should further delays occur, the TA clsoing may have to be extended by one or two months.

(3)/(4) Given that bankability of the KHC Project has to be established first, procurement related activities have been postponed accordingly.

The revised TA scope now also includes assessement of KPT's Financial Management Capacity. In addition, a preliminary assessment on environment and social safeguard aspects of the KPT and KHC Project were also initiated.

Geographical Location
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design Consultation meetings with Karachi Port Trust, Karachi Development Authority, Ministry of Ports and Shipping, and other stakeholders were held to design and update the TA scope.
During Project Implementation Fact-finding and validation meetings with Karachi Port Trust all of the potential KHC project public and private sector stakeholders were held.
Business Opportunities
Consulting Services A corporate strategist and a financial specialist have been recruited for 90 days (intermittent). The consultants were recruited individually by ADB in accordance with its Guidelines on the Use of Consultants (2010, as amended from time to time).
Procurement Not applicable
Responsible ADB Officer Roland C.J. Pladet
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Office of the Director General, CWRD
Executing Agencies
Karachi Port TrustEduljee Dinshaw Road Karachi-74000
Pakistan
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval 20 Dec 2010
Last Review Mission -
Last PDS Update 02 Sep 2011

TA 7726-PAK

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
20 Dec 2010 - 20 Dec 2010 30 Sep 2011 30 Jun 2014 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
225,000.00 0.00 0.00 0.00 0.00 0.00 225,000.00 20 Dec 2010 120,486.56

No documents found.

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


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