Arshiya to invest R7,468 cr
Supply chain and logistics player Arshiya International will invest around R7,468 crore over 3 years on setting up warehousing and railway infrastructure across the country. HT reports.business Updated: Aug 18, 2010 22:36 IST
Supply chain and logistics player Arshiya International will invest around R7,468 crore over 3 years on setting up warehousing and railway infrastructure across the country.
The company, which launched India's first Free Trade and Warehousing Zone (FTWZ) in Panvel, Mumbai, for a project cost of R1,500 crore, plans to set up four more such FTWZ.
The FTWZ scheme envisages creation of world-class infrastructure for warehousing of various products, transportation and handling facilities, one-stop clearance of import and export formality.
"With the launch of India's first FTWZ, Arshiya will not only increase profitability and induce cost savings for our customers, but will also serve as a game changer in the Indian logistics landscape," said Ajay Mittal, chairman and managing director, Arshiya International.
The FTWZ, which will be operational in two phases, will employ 25,000 people and will offer companies flexibility towards end distribution through duty deferment, hassle-free re-export and lower product costs among other benefits.
First Published: Aug 18, 2010 22:34 IST