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Our Bureau

Mumbai , June 25

GATEWAY Distriparks Ltd (GDL), a multi-location logistics service provider, has tied up debt funding from ICICI Bank and HDFC Bank to the tune of Rs 16.65 crore, which will be utilised for part funding of its Rs 22.04-crore capital expenditure programme involving procurement of container-moving equipment and trailer trucks.

GDL, which is an Indo-Singapore joint venture promoted by Windmill International Pte, Parameswarn Holdings and Thakral Corporation, will be procuring seven reach stackers and 55 trailer trucks by the end of next month.

"The investment is being made with a view to arm ourselves with our own equipment and trucks so that we become self-reliant. Further, our efficiency in handling and transportation of containers will improve considerably as a result of faster turnaround in operations," said Mr Kapil Anand, CEO.

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