MoU for a Logistics Park in Biratnagar

KATHMANDU: On December 15, 2019, the Office of the Investment Board Nepal (OIBN), CG Logistics Pvt. Ltd. and Sharaf Group of the UAE signed a Memorandum of Understanding (MoU) to construct and operate a Multi-Modal Logistics Park (MMLP) in Biratnagar. Mr. Maha Prasad Adhikari, OIBN’s CEO, Mr. Nirvana Chaudhary of CG Logistics and Mr. Salah Sharaf of Galaxy Terminal of Sharaf Group signed the MoU on behalf of their respective organizations. H. E. Saeed Hamdan Al-Naqbi, ambassador of UAE to Nepal, was also present on the occasion.

CG Logistics Pvt. Ltd. submitted a proposal to OIBN on May 12, 2019 expressing its intent to construct and operate the MMLP in Biratnagar. The 39th meeting of IBN held on August 2, 2019 granted approval to the company to prepare a feasibility study for the project. The MMLP is a one-stop solution that provides a network of logistics services including various modes of transport access, warehouse facilities, specialized storage solutions, material handling and freight terminals. It is also expected to provide a timely, reliable and efficient delivery of goods and facilitates for national and international trade.

Logistic Parks will be instrumental for transforming a land-locked country like Nepal into a land-linked country. Though the concept of Logistic Park is new in Nepal, such infrastructures are popular in many Asian economies.  The development of a Logistic Park has the potential to reform the logistics sector which is instrumental in facilitating Nepal’s international trade. The Detailed Feasibility Study shall be prepared in compliance with the MoU.