Sharjah-Pak joint venture on inland logistics, transportation: agreement signed

Gulftainer Company Limited of Sharjah has announced that it has reached an agreement with the Pakistani Shaheen Group, based in Karachi, to establish a joint venture company focusing on inland logistics and transportation in Pakistan.
The intention of this joint venture is to invest in new equipment and systems, with the aim of revamping and enhancing inland transportation within Pakistan and to enable customers to enjoy reliable and time sensitive transportation options, which until now have been deficient.
The Gulftainer operate and manage container terminals of Sharjah and Khorfakkan and have 30 years experience of trucking and logistics activity, during which time they have operated a large fleet of vehicles, providing seamless interfaces between sea and land transportation.
General Manager Peter Richards and Yusuf Farrukh, CEO, Pak Shaheen Group signed the agreement.
The Pak Shaheen group was established in 1946 and is now one of the most experienced shipping agencies in Pakistan. The group diversified into the transport and logistics industry in 1980, forming MTI (Multi-modal Transport International), but has mainly remained in the role of a freight forwarder and transport broker.
However, with Gulftainer as a partner the goal of this agreement is to develop the largest transport and logistics firm in Pakistan, with fully owned equipment and facilities.
An initial million-dollar investment to procure 22 vehicles and trailers has already been undertaken. This will be further developed as the company establishes itself within the local markets.