KARACHI:
The National Logistic Cell (NLC) and DP World (UAE) have officially announced a strategic partnership aimed at streamlining the logistics sector in Pakistan.
Addressing a ceremony in Karachi, Sultan Ahmed Bin Sulayem, Group CEO of DP World and Chairman of Ports, expressed satisfaction with the partnership with Pakistan’s largest logistics institution.
He termed the NLC-DP joint venture as a milestone in the country’s logistics sector. He said the two companies provide a strong foundation for the logistics sector, which will directly benefit the business community.
A high-level delegation of 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 Project (Karachi Port to Pipri) .
Consultation with all stakeholders regarding Pipri Multi-Modal Logistics Park was successfully conducted under the auspices of SIFC, with participation of DP World, Pakistan Railways and officials of the National Logistics Cell (NLC), says 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, Secretary Railways of Pakistan, 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 freight vehicle movement in metropolitan Karachi through improved rail infrastructure, aiming to advance freight services in the country in a highly efficient and cost-effective manner.
The initiative aims to realize Pakistan’s envisioned multimodal logistics framework 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 a pleasure to announce that the framework agreement signed between the two countries in January 2024 enabled the implementation of the project within the agreed deadlines, thanks to the joint efforts of SIFC and of the main stakeholders.
This marks the start 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 better port and rail infrastructure. (With contribution from APP)
