Green Ship Break Yard
Bahria Foundation has conducted a market survey to get an insight on Ship Breaking Industry of Pakistan. Bahria Maritime Services (BMS) (Pvt.) Ltd. will conduct a feasibility study on the project to work out the investment requirement after finalization of location for the Green Ship Yard.
Bahria Maritime Services (BMS) (Pvt.) Ltd is also considering to develop 3 PL Logistic Facility near Karachi Port and Port Qasim. The project’s feasibility will be executed soon after commencement of BMS operations.
Bahria Foundation is planning to explore the potential business opportunity pertaining to investment in Bulk Carrier & Cargo Carrier. Initially, it is envisaged that an Aframax will be purchased or hired on long term chartering in a joint partnership with foreign company and subsequently offered to PARCO or other peers in the industry. The project is already in talks with the relevant authorities.
The maritime economy also known as the Blue Economy is an integral part of any economy, as it depends on the ocean for inputs to strengthen and boost production processes. More than 80% of Pakistan’s trade is a sea born, yet, despite dependency on sea for trade, there has been a great lag in projecting Pakistan as a maritime nation in global context. Thus, ‘sea blindness’ augmented with ‘lack of will and institutional capacity’ has greatly contributed towards the present state of affairs. One of the major impediments in development of our maritime industry is lack of financing in Maritime sector by the financial institutions of Pakistan.
In light of this problem, Bahria Foundation took an initiative of venturing into establishment of ‘Development Finance Institution’ (DFI) contributing towards growth in maritime economy and ancillary industry. Currently, Bahria Foundation is acting as a catalyst in developing country’s blue economy through development of its resources.
Joint Venture Company Name: Sino-Pak Refinery Corporation Limited
Project Name: Sino-Pak Refinery Project
Project Location: Sonmiani Bay, Baluchistan (Location not finalized)
Project Main Segments:
Bahria Foundation is setting up a first of its kind in Pakistan; an offshore LNG Terminal in Sonmiani Bay. The terminal is a tolling type terminal with an FSRU along with a jetty and will be sending out RLNG through a 10 KM long subsea pipeline to the shore. The nominal sent out is 750 mmscfd peaking to 1 bcfd.
The project will be completed by end of third quarter of the year 2021 and will play a major role in mitigating gas/ power shortage in the country. Once completed, the terminal will have the capacity to take a Q max size LNG Carrier without any limitations.
The offshore jetty as well as a breakwater will be constructed close to Churna Island in the Sonmiani Bay Area. Churna Island is considered to have a diverse ecosystem. Bahria Foundation, being an environmentally conscientious organization has carried out an Environmental & Social Impact Assessment (ESIA) Study for LNG Terminal Project so as to mitigate the environmental impacts of the project during the construction and operation phases of the project. Additionally, a detailed Environment Management Plan is being prepared which will go a long way in not only protecting this diverse eco system but will help flourish it more.