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i-maritime news letter

Continental Terminals to set up 18 facilities in 5 years - 2011-12-26

Continental Multimodal Terminals Ltd, part of the logistics solutions provider NDR Group, is in the process of setting up three terminals — at Chennai, Ahmedabad and Panipet — at a cost of Rs 300 crore in the next 12 months. The company, which set up its first terminal in Hyderabad, has plans to develop a network of 18 terminals across the country over the next five years. ―The three new terminals will be immediately followed up with similar facilities in Bangalore and Tuticorin,‖ Mr Suresh Joseph, Managing Director and CEO of the company, told Business Line. The Hyderabad facility, which was recently notified as a private freight terminal by the South Central Railway, will also have an Inland Container Depot by next month. The ICD, spread over 50,000 sq.ft, has been designed to handle 1,000 TEUs — this will be the company's fourth ICD. Having invested Rs 130 crore for setting up the facility, the company is investing another Rs 80 crore to expand the terminal capacity in the next one year. ―Right now, we can handle 60 trains a month at the facility. After the expansion, the capacity will double to 120 trains,‖ Mr Joseph said. The facility will handle domestic cargo in railway wagons and provide linkage for container trains to gateway ports such as JNPT, Chennai, Krishnapatnam and Visakhapatnam . It is eyeing cargoes such as iron and steel, cement, granite, textile and foodgrains. Kribhco Infrastructure Ltd holds a minority stake of 10 per cent in the company. The company is betting big on this segment of logistics business, especially expecting the market to open up further after the new GST regime is in place from next year, which will increase stocking demands. It plans to have over 90 lakh sq.ft of warehousing at 70 different locations across the country.

Source: Hindu Business Line