MOL establish JV with INDU for self-operated warehouses in JAFZA Dubai
MOL Middle East FZE a 100% subsidiary of Mitsui O.S.K. Lines Group and a strategic management company in the Middle East, has joined forces with INDU KISHORE LOGISTIC LLC, a prominent warehousing entity based in Dubai. Together, they have inked a joint venture agreement aimed at establishing a new company that will oversee self-operated warehouses strategically located within Dubai's esteemed Free Zones. These Free Zones serve as crucial trade gateways to both the Middle East and Africa, underlining the significance of this collaboration in enhancing regional logistics infrastructure.
The signing ceremony for this venture took place in JAFZA, where MOL Group Senior Managing Executive Officer overseeing the group's operations in the Indian sub-continent and Middle East, Mr. Ajay Singh, Mr. Kishore Lakhani, Chairman of INDU Kishore Logistics, and Abdulla Al Hashmi, Chief Operating Officer of Parks & Zones at DP World GCC, came together to formalize the agreement.
Expressing his enthusiasm for the collaboration, Mr. Singh remarked, "With this investment, MOL has made a start to developing an onshore logistics system in the Middle East, building on our strong shipping-related activities in the region. We look forward to working together with INDU, who have built an impressive portfolio of warehousing assets in the UAE, to service customers through our joint venture and MOL's global logistics network. With this investment we also deepen our relations with JAFZA, as part of our existing partnership with Dubai Ports World. The United Arab Emirates are a dynamic area of growth with stability; through their expanding trade links with major world economies, the country is emerging as a center of value addition in global supply chains; connecting India, Europe and East Africa and a gateway to other parts of the Middle East. We are growing our office in Dubai to cater to our growth here."
During the ceremony, Kush Lakhani, Managing Partner at INDU Logistics shares his enthusiasm and says 'INDU Logistics has always been committed to adding value to its stakeholders by ensuring continuous growth around the warehousing space. To expand the offering, it was important to partner with a Shipping Line that shares the same ambition and values. We are proud to partner with a 140-year-old company that has grown to be a prominent player in the Shipping Industry. We are optimistic and feel we have the right mixture to create a strong mark in the supply chain industry.'
Mr. Abdulla Al Hashmi, Chief Operating Officer of Parks & Zones at DP World GCC, welcomed the partnership, saying: "This agreement reflects the power of collaboration in driving the growth of the logistics sector. Jafza's strategic location next to Jebel Ali Port and Al Maktoum Airport, coupled with our comprehensive services, provides the perfect platform for businesses to expand their reach and access growing regional markets of more than 3.5 billion people. We are confident that this partnership will strengthen Dubai's position as a global logistics hub, support in achieving the D33 Economic Agenda to double Dubai's foreign trade by 2030, and add value to Jafza, our world-leading free zone."
Mitsui O.S.K Lines, a global leader in integrated logistics, is advancing it's presence through strategic partnerships with group companies. In Dubai, INDU stands out as powerful local warehouse operator currently managing more than 1,5 million square feet of warehousing space in the UAE Free Zones. Recognizing the synergy between MOL's expansive network and INDU 's stronghold in Dubai's logistics landscape, both entities have joined forces to leverage on their offerings. Mitsui O.S.K. Lines Group, which did not have a warehouse base in Dubai, and INDU, which aims to further develop its Freight and Transport business centered on the warehouse business, have decided to strengthen integrated logistics services through a joint venture company by bringing together each other's strengths. Elevate integrated logistics services, ensuring unparalleled support for clients across various industries. MOL INDU Warehousing and Logistics is formed at JAFZA. JAFZA's strategic location offers unparalleled access to key markets, facilitating seamless trade and logistics operations. Furthermore, its state-of-the-art facilities and modern amenities provide businesses with the necessary infrastructure to thrive in a competitive environment. Moreover, JAFZA's proactive and supportive approach towards businesses is exemplary. From streamlined company formation process to tailored support services, JAFZA goes above and beyond to ensure the smooth establishment and operation of business within it's jurisdiction.
Mitsui O.S.K. Lines Group and INDU will bring together their strengths to strengthen and expand the integrated logistics business that is closely related to the region.