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MOL Middle East FZE, headquartered in Jebel Ali Free Zone (JAFZA), has joined forces with INDU Kishore Logistic, a leading warehousing operator based in Dubai, through a joint venture agreement aimed at establishing a new company that will oversee self-operated warehouses within Dubai’s Free Zones. The new joint venture company, MOL INDU Warehousing and Logistics, will be based in JAFZA.
Expressing enthusiasm for the collaboration, MOL Group Senior Managing Executive Officer, Ajay Singh, said: “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.”
INDU is currently managing more than 1.5 million ft 2 of warehousing space in the UAE’s Free Zones. MOL, which previously did not have a warehouse base in Dubai, and INDU, which aims to further develop its freight and transport activities centred on the warehouse business, have decided to offer integrated logistics services through a joint venture company which brings together each other’s strengths.
