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New Delhi March 23 Tokyo-based Mitsui Leasing is looking for a local Indian partner to enter the asset-based transportation leasing market.

"With 14 container operators, we are evaluating the wagon leasing market," Mr Mishihiro Nose, General Manager of Mitsui Leasing, said on the sidelines of Global Rail Freight Conference here on Friday.

However, he declined to comment on the extent and kind of participation that Mitsui is envisaging in the Free Trade Warehousing Private Ltd (FTWPL), in which MMTC and IL&FS are shareholders, to be set up in Greater Noida.

Framework

In May 2006, FTWPL signed a memorandum of understanding with Mitsui & Co. The MoU laid the broad framework for carrying out detailed study for feasibility and implementation of free trade and warehousing zone projects at Greater Noida, Kandla and Haldia to begin with.

Mitsui will bring to the table their vast global experience in logistics management and will also be partly financing the project by taking a 48 per cent stake in the equity capital of the promoter company, according to MMTC.

To begin with, the first project will be put up at either Greater Noida or Kandla, where discussions are currently on with State Government authorities concerned for allotment of land for the projects.

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