MOL Middle East FZE (Head Office: Jebel Ali Free Zone, hereinafter "JAFZA", Dubai, UAE, hereinafter "MOLME"), a strategic management company in the Middle East and a 100% subsidiary of Mitsui O.S.K. Lines Group, has partnered with INDU KISHORE LOGISTIC LLC (hereinafter "INDU"), a well-known warehousing entity with its headquarters located in Dubai. They have signed a joint venture agreement to form a new business that would manage strategically placed, independently run warehouses inside Dubai's prestigious Free Zones. According to a press statement from MOL, "These Free Zones are vital trade gateways to both the Middle East and Africa, highlighting the significance of this collaboration in enhancing regional logistics infrastructure."

The venture was officially signed in JAFZA by Mr. Ajay Singh, the Senior Managing Executive Officer of MOL Group, who is in charge of the group's operations in the Indian subcontinent and the Middle East; Mr. Kishore Lakhani, Chairman of INDU Kishore Logistics; and Abdulla Al Hashmi, Chief Operating Officer of Parks & Zones at DP World GCC.

"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," Mr. Singh said, expressing his delight for the collaboration. With our joint venture and MOL's extensive global logistics network, we are eager to collaborate with INDU, who has amassed an exceptional portfolio of warehouse assets in the UAE, to serve customers. As part of our ongoing collaboration with Dubai Ports World, we additionally strengthen our ties with JAFZA with this investment (note). The United Arab Emirates is a stable, dynamic region that is growing rapidly. It is becoming a hub for value addition in global supply chains, connecting Europe, East Africa, India, and other parts of the Middle East through its growing trade connections with major global economies. To accommodate our expansion here, we are expanding our office in Dubai."

"INDU Logistics has always been committed to adding value to its stakeholders by ensuring continuous growth around the warehousing space," says Kush Lakhani, Managing Partner of INDU Logistics, with passion during the ceremony. It was crucial to collaborate with a shipping line that has similar goals and ideals in order to grow the service. We are honored to work together with a 140-year-old business that has developed into a major force in the shipping sector. We believe we have the appropriate combination to make a significant impact in the supply chain sector, and we are confident.

"This agreement reflects the power of collaboration in driving the growth of the logistics sector," said Mr. Abdulla Al Hashmi, Chief Operating Officer of Parks & Zones at DP World GCC, in a statement expressing his gratitude for the collaboration. Together with our extensive services, Jafza's advantageous position near Jebel Ali Port and Al Maktoum Airport offers businesses the ideal platform to build their customer base and get into the more than 3.5 billion increasing regional markets. We have no doubt that this collaboration will improve Dubai's standing as a major hub for global logistics, aid in the realization of the D33 Economic Agenda, which aims to double Dubai's international commerce by 2030, and enhance Jafza, our premier free zone globally."

As a pioneer in integrated logistics worldwide, Mitsui O.S.K Lines is expanding its footprint by forming strategic alliances with group companies. With over 1.5 million square feet of warehouse space under management in the UAE Free Zones, INDU is a prominent local warehouse operator in Dubai. Acknowledging the complementary nature of INDU's position in Dubai's logistics market and MOL's wide network, the two organizations have partnered to capitalize on each other's strengths. In order to leverage each other's strengths and strengthen integrated logistics services, Mitsui O.S.K. Lines Group, which did not have a warehouse base in Dubai, and INDU, which wants to expand its freight and transport business focused on the warehouse business, have decided to form a joint venture company.

Boost integrated logistics services to provide clients in a variety of industries with unmatched support. At JAFZA, MOL INDU Warehousing and Logistics is established. The strategic location of JAFZA provides unmatched access to important markets, enabling smooth trade and logistics operations. Additionally, its cutting-edge facilities and contemporary amenities give firms the tools they need to prosper in a cutthroat market. Furthermore, JAFZA's proactive and encouraging attitude toward companies is admirable. To guarantee the seamless establishment and operation of business under its jurisdiction, JAFZA goes above and above with customized support services and a faster company formation process