Apollo buys Seaport Container

The Apollo Tyres group, through its logistics arm Apollo International, has acquired the Mumbai-based container transport services company, Seaport Container Terminal, for an undisclosed amount. Apollo International, which is engaged in imports and exports of tyres and tubes, had recently announced its foray into logistics space.

Seaport Container Terminal is a leading transportation company operating as contractor for the rail PSU, Container Corporation of India (CONCOR), for the latter's inland container depot (ICD) in Mulund, which mainly handles traffic from Jawaharlal Nehru Port Trust (JNPT).

Kapil Anand, the chief executive officer of Apollo International, declined to comment. The acquisition of Seaport Container Terminal will give the company direct entry into port-based logistics business.

Apollo International was also in the race to secure a management contract of Punjab Conware, a Punjab government-controlled container freight station, near JNPT.

Apollo International will also invest Rs 300 crore in the next two years for setting up CFSs and ICDs at various ports in the country.

The firm is also looking at setting up a distribution centre at JNPT, which will include assembling, packaging, repacking, grading and distribution.

"Apollo International is positioning itself as 4PL (four-party logistics) player in the industry, offering complete logistics solutions under one-roof," the sources added.