Pakistan Railways, in order to utilize its resources effectively and facilitate the trade and industry of Pakistan, sought proposals from the private sector to build, operate and transfer a dry port at Prem Nagar, Lahore.
Against competitive bidding, PMS, the stevedoring service provider of the Marine Group of Companies, was awarded a 35-year Concession to build and operate a dedicated container terminal at the said location. As a result, an Implementation Agreement was entered into by PMS and Pakistan Railways which inter alia detailed the commercial, financial and technical terms of the Concession.
The concession agreement with Pakistan Railways was novated to MICT. The aim of novation agreement was to provide high quality services to Marine Group customers and the trade through a dedicated container terminal operator.