NLC and Sinotrans sign MoU for logistics cooperation
Rawalpindi, 7 April 2016: In a landmark development to fully exploit logistics opportunities in wake of China-Pakistan Economic Corridor (CPEC), National Logistics Cell, Sinotrans and CSC Co. Ltd and Xinjiang Tiangong Investment Co Ltd signed Memorandum of Understanding (MoU) for cooperation in multiple areas.
Under the MoU, a joint Working Group headed by DG NLC and MD Sinotrans with three members each from both the organization been formed to discuss framework for JV, share ratios, evaluation of feasibility report and investment plans for logistic parks, establishment of border terminals, transport fleet, international e-platform and other areas concerning logistics. . d
The MoU covers both immediate and long term areas of cooperation as identified by both parties. The immediate term of cooperation consists of establishment of logistics parks at central location, logistics centers all along CPEC route, development of border terminals and establishment of transport fleet.. d
In the long term cooperation, establishment of courier service company, multi modal integrated trans-continental freight forwarding operation, marine and air transport companies etc will be considered. Chinese investment amounting USD 1.5-2 Billion is estimated on projects included in both immediate and long term cooperation.. d
According to MoU, the Joint Working Group will complete its task and put forward concrete proposals by 30 June 2016.. d