Karandaaz invests in Secure Logistics
Karandaaz, with funding from UK’s Foreign, Commonwealth and Development Office (FCDO), has signed an equity investment deal with Secure Logistics (Pvt) Ltd (SLG).
Karandaaz’s equity investment with added co-investment from an international investor, Saudi Bugshan Group (Bughsan Group) in SLG, now totals Rs1.2 billion. T
he investment, in addition to enabling SLG to expand its existing long-haul fleet, will also help expand into additional segments of short-haul distribution and warehousing – thus becoming a leading domestic 3 PL player offering “one-window solutions” to clients supported by an in-house vehicle and asset tracking capability.
The investment is expected to create more than 600 direct and indirect additional jobs in the logistics sector of the country. Karandaaz Chief Executive Officer (CEO) Ali Sarfraz, while speaking about the investment said, “We are pleased to announce our investment in SLG, one of the leading logistics service providers in the country.
As a result, over 600 additional jobs will be created, through direct employment by SLG or indirect employment in the supply chain. The fresh capital will help the company substantially scale the business, create jobs, help further corporatize the logistic industry, and add value to the domestic economy.”
Published in The Express Tribune, September 9th, 2020.