KARACHI:
National Logistic Cell (NLC) and DP World (UAE) have formally announced a strategic partnership to optimize the logistics industry in Pakistan.
At a ceremony in Karachi, Sultan Ahmed Bin Sulayem, DP World Group CEO and Chairman of Ports, expressed his delight over the partnership with Pakistan’s largest logistics institution.
He termed the NLC-DP joint venture as a milestone in the country’s logistics field. He said both companies are providing a solid foundation for the logistics industry that will directly benefit the business community.
A high-level delegation of DP World (UAE), led by Sultan Ahmed Bin Sulayem, visited Pakistan through SIFC platform to finalize various commercial aspects of the Dedicated Cargo Corridor project (from Karachi Port to Pipri).
Consultation with all stakeholders on the Multimodal Logistics Park in Pipri was successfully carried out under the auspices of SIFC, with the participation of officials from DP World, Pakistan Railways and National Logistics Cell (NLC), according to a press release. .
During a ceremony at SIFC, a mutually agreed term sheet was signed between DP World and relevant parties for the implementation of the project. Syed Mazhar Ali Shah, Pakistan Railways Secretary, represented Pakistan in the presence of DG SIFC. The Pakistani delegation also included DG NLC and other senior officials of relevant ministries and departments, he added.
This project is expected to reduce the movement of freight vehicles in the Karachi metropolis through improved railway infrastructure, aimed at improving freight services within the country in a highly efficient and cost-effective manner.
The initiative aims to realize the Multimodal Logistics Framework envisaged by Pakistan with a multi-million dollar investment, positioning the country as a regional hub for transshipment and transit trade. With the signing of this historic document, it is with 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 timeframe, thanks to the joint efforts of SIFC and key stakeholders.
This marks the beginning of long-term strategic ties with DP World to harness Pakistan’s vast potential for regional trade and connectivity, which remains underutilized due to lack of improved port and rail infrastructure. (With input from the APP)
