The World Bank Report No: ISR12549 Implementation Status & Results Pakistan Karachi Port Improvement Project (P112902) Public Disclosure Copy Operation Name: Karachi Port Improvement Project (P112902) Project Stage: Implementation Seq.No: 6 Status: ARCHIVED Archive Date: 28-Dec-2013 Country: Pakistan Approval FY: 2011 Product Line: IBRD/IDA Region: SOUTH ASIA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Karachi Port Trust Key Dates Board Approval Date 09-Sep-2010 Original Closing Date 31-Dec-2015 Planned Mid Term Review Date 24-Sep-2013 Last Archived ISR Date 17-May-2013 Effectiveness Date 15-Jul-2011 Revised Closing Date 31-Dec-2015 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective (PDO) is to replace the lost port capacity and reduce shipping costs to the Pakistan economy through the reconstruction of the failed berths at Karachi Port and increasing the effectiveness and efficiency of port operations and enhancing environmental sustainability. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Component A: Reconstruction of Berths 15 to 17A 112.00 Component B: Institutional strengthening 3.80 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Public Disclosure Copy Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Low Implementation Status Overview After initial delays, the project is making good progress. The civil works Contractor is has completed 42 percent works by end October 2013, and is slightly behind planned progress. Currently 89% anchor piles, 52% front wall piles, and 69% anchor beam has been completed. The contractors has committed to increase the rate of progress in the coming months. All planned/agreed procurement activities have been completed. KPTs FY10 and FY11 audits have been completed. Both were International Financial Report Standards (IFRS) compliant. KPT has achieved this milestone well before the target date Page 1 of 4 The World Bank Report No: ISR12549 of end 2015. Gap analysis was carried out by the firm hired for the purpose of strengthening environmental management, including ISO14001 certification. Assessment of documentation and protocols is underway. Public Disclosure Copy Locations Country First Administrative Division Location Planned Actual Pakistan Sindh Karachi Shipyard ✔ ✔ Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Reduction in waiting to service time ratio Number Value 0.54 0.00 0.35 Date 01-Jul-2010 31-Oct-2013 31-Dec-2015 Comments PDO Indicators will be available after berths become operational Improvement in occupancy rate of project Percentage Value 74.00 0.00 50.00 berths Date 01-Jul-2010 31-Oct-2013 31-Dec-2015 Comments Average occupancy of project PDO Indicators will be The end of target range is berths before collapse was available after berths become between 45% to 55% 74% operational Increase in berth throughput, tons per berth per Metric ton Value 0.00 0.00 1125000.00 year Date 01-Jul-2010 31-Oct-2013 31-Dec-2015 Comments PDO Indicators will be End of target value is the available after berths become optimum capacity of each operational berth Public Disclosure Copy Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Reconstruction of berths 15, 16, 17 & 17A, Percentage Value 0.00 42.25 100.00 quay wall of 922 meters and backyard facilities Date 01-Jul-2010 31-Oct-2012 31-Dec-2015 completed Comments Reconstruction work underway. Page 2 of 4 The World Bank Report No: ISR12549 KPT#s Five-year Business Plan developed and Text Value No five-year Business Plan Consultant firm hired Key short-term key short-term recommendations implemented recommendations implemented Public Disclosure Copy Date 01-Jul-2010 31-Oct-2013 31-Dec-2015 Comments Consultancy delayed KPT#s audits fully complying with International Text Value Partial compliance with IFRS Full compliance with IFRS Full compliance with IFRS Financial Reporting Standards (IFRS) Date 01-Jul-2010 31-Oct-2013 31-Dec-2015 Comments Gap analysis completed. FY10 audited statements being prepared in compliance with IFRS. Full compliance with IFRS expected by June 2013, i.e. before the target date. KPT complying with ISO 14001 environmental Text Value No compliance with ISO Gap analysis completed. Compliance with ISO 14001 management 14001 Date 01-Jul-2010 31-Oct-2013 31-Dec-2015 Comments Firm has commenced work. Gap analysis completed. Data on Financial Performance (as of 05-Dec-2013) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P112902 IBRD-79560 Effective 09-Sep-2010 24-Jan-2011 15-Jul-2011 31-Dec-2015 31-Dec-2015 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P112902 IBRD-79560 Effective USD 115.80 115.80 0.00 55.49 60.31 48.00 Public Disclosure Copy Disbursement Graph Page 3 of 4 The World Bank Report No: ISR12549 Public Disclosure Copy Key Decisions Regarding Implementation No key decision to report during this reporting period. Restructuring History Level two Approved on 03-May-2011 Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4