Islamabad:
A high-level delegation from DP World (UAE) led by DP World Group CEO and Ports Chairman Sultan Ahmed Bin Saleem discussed the commercial aspects of the dedicated freight corridor through the Special Investment Facilitation Council (SIFC) platform. visited Pakistan to finalize Project from Karachi Port to Papri
According to a press release, a consultation with all stakeholders on the Multimodal Logistics Park at Pipri was successfully conducted under the auspices of SIFC, in which officials from DP World, Pakistan Railways, and National Logistics Cell (NLC) participated.
During a function at SIFC, a mutually agreed term sheet was signed between DP World and the relevant stakeholders for the implementation of the project.
Pakistan Railways Secretary Syed Mazhar Ali Shah represented Pakistan, along with senior officials from DGSIFC, DGNLC, and various ministries and departments, the press release added.
The project is expected to reduce freight traffic in Karachi by taking advantage of improved railway infrastructure, expanding the country’s freight services in a cost-effective and efficient manner. The initiative is a step towards realizing Pakistan’s envisioned multimodal logistics framework, which supports multi-million dollar investments to establish the country as a regional hub for transshipment and transit trade. Got it.
Following the signing of this historic document, the framework agreement agreed between the two countries in January 2024 has now been implemented within the stipulated period.