Gateway's greenfield project at Vizag

Gateway Distriparks Limited, an Indo-Singapore joint venture logistics company, has signed an MoU with the East India Petroleum Company to set up a container handling greenfield project at the Vizag port.

As per the MoU, the two companies will establish a 60:40 joint venture company, with Gateway Distriparks holding the larger share. The total cost of the project will be Rs 10 crore.

Capt Kapil Anand, CEO of Gateway Distriparks, said: "The setting up of the project at Vizag is an integral part of our growth strategy. We see immense business potential emanating from the Vizag port which is considered one of the leading ports in India today."

The container facility at Vizag is expected to have the capacity to handle 80,000 TEUs per annum and will be set up in three phases. The first phase comprising 40,000 sq ft of warehouse and 1,50,000 sq ft of open area is expected to become operational by February 2005.

The project envisages the setting up of warehouses, open stack yards, office buildings and container handling equipment like cranes, forklifts, trucks, etc.

Gateway Distriparks recently commissioned the third phase of its operations at Dronagiri near the Jawaharlal Nehru port in Navi Mumbai thus taking its container handling capacity from 93,000 TEUs to 130,000 TEUs per annum.

The company is also looking at augmenting its Dronagiri operations by adding another 60,000 sq ft of warehousing.