ISLAMABAD: Karandaaz with the funding from the United Kingdom's Foreign, Commonwealth and Development Office (FCDO) has signed an equity investment deal with Secure Logistics (Pvt) Ltd (SLG).

Karandaaz's equity investment with added co-investment from an international investor, Saudi Bugshan Group (Bughsan Group) in SLG, totals to PKR 1.2 billion. The investment, in addition to enabling SLG to expand its existing long-haul fleet, will also help it in expanding into additional segments of short-haul distribution and warehousing - thus becoming a leading domestic 3 PL player offering "one-window solutions" to clients supported by an in-house vehicle and asset tracking capability. The investment is expected to create more than 600 direct and indirect additional jobs in the logistics sector of the country.

Ali Sarfraz, CEO Karandaaz, while speaking about the investment said, "We are pleased to announce our investment in SLG, one of the leading logistics service providers in the country." -PR

Copyright Business Recorder, 2020