UAE + Pakistan finalize details of freight corridor project: UAE-based port operator DP World has inked a term sheet with Pakistan’s Special investment Facilitation Council (SIFC) for the development of a freight corridor linking Karachi Port to the Pipri Marshalling Yard, state-media APP reports. The project aims to reduce road traffic in Karachi by boosting rail infrastructure. The investment figure or timeline of the project was not disclosed.

REMEMBER- The 50 km rail-based dedicated freight corridor will run from Karachi Port to the Pipri Marshalling Yard, passing through Karachi. The government of Dubai signed two investment framework agreements with Pakistan to cooperate on railways, economic zones, and infrastructure a year ago. The agreements covered the development of the freight corridor, a multi-modal logistics park, and freight terminals.

Who’s involved: DP World is serving as a developer on behalf of the Dubai government, while Pakistan Railways, Pakistan’s National Logistics Corporation (NLC), and Port Qasim Authority is working on behalf of the Pakistan government.

IN OTHER DP WORLD NEWS-

DP World expands partnership with Pakistan’s NLC: UAE-based DP World and Pakistan’s NLC have formed a strategic partnership to modernize delivery and logistics systems in Pakistan, APP reported. Under the agreement, the pair will work together to boost trade and connectivity by developing Pakistan’s logistics infrastructure. This should increase the volume of trade and enable the Pakistani business community to compete in global markets, said DP World CEO Sultan Ahmed Bin Sulayem.

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