KARACHI:
National Logistic Cell (NLC) and DP World (UAE) have formally announced a strategic partnership to streamline the logistics industry in Pakistan.
During a ceremony in Karachi, Sultan Ahmed Bin Sulayem, Group CEO of DP World and Chairman of Ports, expressed delight at the partnership with the largest logistics institution in Pakistan.
He described the NLC-DP joint venture as a milestone in the country’s logistics field. He said both companies provide a strong foundation for the logistics industry, which will directly benefit the business community.
A high-level delegation from DP World (UAE), led by Sultan Ahmed Bin Sulayem, visited Pakistan through the SIFC platform to finalize various commercial aspects of the Dedicated Freight Corridor (from Karachi Port to Pipri) project.
The consultation with all stakeholders regarding Multi-Modal Logistics Park at Pipri was successfully conducted under the auspices of SIFC, with the participation of officials from DP World, Pakistan Railways and National Logistics Cell (NLC), a press release said.
During a ceremony at SIFC, a mutually agreed term sheet was signed between DP World and the relevant parties for the implementation of the project. Syed Mazhar Ali Shah, Secretary of Pakistan Railways, represented Pakistan in the presence of DG SIFC. The Pakistani delegation also included DG NLC and other senior officials from relevant ministries and departments, it further said.
It is expected that this project will reduce the movement of goods vehicles in the Karachi metropolis through improved rail infrastructure aimed at promoting freight services in the country in a highly efficient and cost-effective manner.
The initiative aims to materialize Pakistan’s envisioned multi-modal logistics framework with a multi-million dollar investment, positioning the country as a regional hub for transhipment and transit trade. With the signing of this historic document, it is a pleasure to announce that the framework agreement signed between the two countries in January 2024 has led to the implementation of the project within the agreed time frame, through a joint effort of SIFC and key stakeholders.
This marks the beginning of long-term and strategic ties with DP World to tap Pakistan’s huge potential for regional trade and connectivity, which remains underutilized due to the lack of better port and rail infrastructure. (With input from APP)
