ISLAMABAD: AD Ports Group announced on Thursday that it had formed a strategic joint venture (JV) with a Pakistan-based freight-forwarder and logistics provider, as the UAE-based group eyes expanding its footprint in the South Asian country.
AD Ports said in a press release that it has entered into a JV with CEI Supply Chain Private Limited, a premier logistics service provider in Pakistan. The venture will develop a robust and asset-light network delivering door-to-door solutions across the region.
The agreement was signed by both parties in Pakistan’s commercial hub Karachi in the presence of UAE Ambassador to Pakistan Salem Mohammed Al Zaabi and UAE Consul General in Karachi Dr. Bakheet Ateeq Alremeithi on Thursday, AD Ports said.
“Under terms of the agreement, AD Ports Group will acquire a 51 percent majority shareholding in the new entity, further solidifying its presence in Pakistan, a key South Asian market and gateway to the Group’s Central Asia corridor,” the press release said.
AD Ports said its strategic partnership with CEI Supply Chain represents a “significant step” in the company’s plans to directly link its port infrastructure with inland logistics networks.
