ICTSI added the PICT to its portfolio through offshore subsidiary ICTSI Mauritius Ltd., which bought 35% of the shares of stock of the Pakistan terminal in March 2012, then launched a takeover of the facility at the Karachi Exchange last August. By the end of 2012, ICTSI Mauritius owned 63.59% of PICT, which has a contract with the Karachi Port Trust to develop, operate and manage the 750,000-TEU annual capacity terminal at the Port of Karachi for 21 years.