Financial Daily from THE HINDU group of publications
Saturday, Apr 24, 2004
Financial Daily from THE HINDU group of publications Saturday, Apr 24, 2004 |
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New Projects Logistics - Supply Chain Management Gateway Distriparks plans greenfield project in Vizag Our Bureau
Mumbai , April 23 GATEWAY Distriparks Ltd, an Indo-Singapore joint venture logistics company, plans to set up a greenfield project at the Vizag port. The company has signed a memorandum of understanding with East India Petroleum Company Ltd to set up container handling facilities on a 20-acre plot near the port. According to an official statement, the two companies will set up a 60:40 joint venture company, with Gateway Distriparks Ltd holding the larger share. The total project cost will be Rs 10 crore. The statement, quoting the CEO, Gateway Distriparks, Capt. Kapil Anand, said: "The project is an integral part of our growth strategy. We plan to become a pan-India player with a geographical spread across the country." The container facility is expected to have a handling capacity of 80,000 TEUs per annum and will be set up in three phases. The first phase, comprising 40,000-sq.ft. of warehouse and 1,50,000-sq.ft. of open area, is expected to become operational by February 2005. The project envisages the setting up of warehouses, open stack yards, office buildings and container handling equipment such as cranes, forklifts, trucks, etc.
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