DP World, govt finalise freight corridor project

Agreement to enhance Karachi's freight efficiency, position Pakistan as regional trade hub

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ISLAMABAD:

A high-level delegation from DP World (UAE), led by Sultan Ahmed Bin Sulayem, Group CEO of DP World and Chairman of Ports, visited Pakistan through the Special Investment Facilitation Council (SIFC) platform to finalise commercial aspects of the Dedicated Freight Corridor project from Karachi Port to Pipri.

Consultations with all stakeholders on the Multi-Modal Logistics Park in Pipri were successfully conducted under SIFC's auspices, with participation from DP World, Pakistan Railways, and National Logistics Cell (NLC) officials, according to a press release.

During a ceremony at SIFC, a mutually agreed-upon term sheet was signed between DP World and relevant stakeholders to implement the project.

Syed Mazhar Ali Shah, Secretary of Pakistan Railways, represented Pakistan, accompanied by the DG SIFC, DG NLC, and senior officials from various ministries and departments, the press release added.

The project is expected to reduce freight vehicle traffic in Karachi by leveraging improved railway infrastructure, enhancing the country's freight services in a cost-effective and efficient manner. This initiative is a step toward realising Pakistan's envisioned Multi-Modal Logistics Framework, backed by a multi-million-dollar investment to establish the country as a regional hub for transshipment and transit trade.

With the signing of this historic document, the framework agreement established between the two countries in January 2024 has now been implemented within the agreed timeframe.