KATHMANDU: A Memorandum of Understanding (MoU) was signed on July 17 between the Investment Board Nepal (IBN) and a consortium of Flash Freight Logistics Pvt. Ltd. and International Cargo Terminals and Infrastructure Pvt. Ltd. to prepare a Detailed Feasibility Study Report (DFSR) on a Private Freight Terminal and Bulk Handling Facilities in Birgunj and Bhairahawa. The MoU was signed by Mr. Maha Prasad Adhikari, CEO of Office of the Investment Board Nepal (OIBN) and Mr. Thomas Murray, Managing Director of Flash Freight Logistics Pvt. Ltd.
At the signing ceremony, Mr. Adhikari highlighted the significance of logistics parks for a land-locked country like Nepal. He said that logistics parks are integral to transforming the country to a land-linked one. Mr. Murray expressed his commitment to completing the DFSR within the designated period of nine months. The OIBN had received an application and proposal on April 29, 2019 from Flash Freight Logistics. Under the MoU, the developer company will prepare a DFSR on various infrastructures needed for cargo handling. The company will carry out a study on developing a logistic park, a one-stop solution to provide a network of logistics services including various modes of transport access, warehouses facilities, specialized storage solution, material handling and freight terminals. Such infrastructures will be instrumental for timely, reliable and efficient delivery of goods and facilitate international trading.
The 38th meeting of IBN held on June 2, 2019 gave approval to Flash Freight Logistics to carry out the feasibility study on technical, economic and other necessary aspects of the Private Freight Terminal and Bulk Handling Facilities on the condition that it would not render any financial burden on the government. The meeting also granted authorization to OIBN to do needful tasks and instruct relevant agencies for necessary coordination, facilitation and assistance to complete the study of the project. ♦