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Company Profile |
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| COMPANY PROFILE |
The concept and design of FOTCO originated from a techno-economic study carried out by the Asian Development Bank (ADB) for the development of a new oil handling facility at Port Qasim. The study resulted in the development of a Master Plan for meeting the current and future handling requirement of imported petroleum products in the country. Based on the Master Plan, the Government of Pakistan invited proposals from the private sector for construction of a Marine Oil Terminal at Port Qasim.
In response to the invitation, Fauji Foundation of Pakistan in collaboration with Canamerican Holdings Limited (Now INFRAAVEST LTD) of Hong Kong made a successful bid and were awarded the contract to build, own and operate the first oil handling Terminal in the private sector. FOTCO is located at Port Qasim about 35 km East of Karachi. The Terminal is located on the North side of the Kadiro Creek at position 24o 47' N; 67o17' E. |
| SPONSORS |
EQUITY SHAREHOLDING(%) |
| Fauji Foundation |
52 |
| Infraavest Limited |
44 |
| National Bank of Pakistan |
3 |
| Bankers Equity Limited |
1 | |
Construction work began in 1993 and the project was completed and inaugurated within the stipulated time period of 24 months in 1995.
The first vessel was unloaded in March 1995 and the Terminal was formally commissioned in April 1995. Since its commissioning in 1995, FOTCO has handled over 54 million tons of Furnace Oil. FOTCO also commenced handling Diesel and Crude at its existing Terminal from 2001 and up to June 2010 has handled over 29 million tons of these products.
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FOTCO Board gives go ahead for the construction of new Jetty (QP-2) at its existing Terminal on fast track basis. 
