KoRail to facilitate setting up of dry port: accord signed

In a major initiative, Lahore Chamber of Commerce and Industry (LCCI) on Thursday inked a Memorandum of Understanding with Korea Railroad Corporation (KoRail) to act as a facilitator to establish a modern and functioning Dry Port in Sheikhupura.
LCCI President, Shahzad Ali Malik signed MoU on behalf of the chamber while Korea Railroad Corporation (KoRail) was represented by Han Kwang Scok, General Manager Overseas Railways Business Department, KoRail Kim Dong IL, CEO, PAKOR Global Private Ltd.
Under the agreement, KoRail will facilitate Sheikhupura Dryport Trust to acquire four locomotives for operating the first-ever private sector freight train operators for cost effective and timely transportation of commercial and industrial cargo. The initiative will open new opportunities for private investment in trade related infrastructure considered vital for economic competitiveness in the prevalent global market place.
Speaking on the occasion, LCCI President Shahzad Ali Malik said that the sole objective of having another dry port is to make the trade and industry sector competitive by reducing delivery time and cost. He said that the project is well on its way and would be a fully equipped, state-of-art dry port that ensuring cost-effective and efficient logistic solutions to promote economic activities in the region.
He said that the successful models of private sector-managed dry port already exist in the shape of Faisalabad Dry Port and Sialkot Dry Port. He informed the participants that Faisalabad Dry Port has a capacity to handle 33,000 export cargo containers.