Chennai-based Sical Logistics has signed a Memorandum of Understanding (MoU) with Japan-based shipping and logistics company Mitsui OSK Lines (MOL) to set up a new joint venture company for an automotive management yard at Ennore port, near Chennai.
Sical Logistics managing director L R Sridhar told Business Standard Nissan Motor India Pvt Ltd (NMIPL) has signed a MoU with Ennore Port Ltd (EPL) for exporting its vehicles through the port. While the berth will be constructed by the port, the proposed new company will take care of yard management. Nissan Motor India, which will get priority for using the marine facilities being developed at Ennore Port, will start exporting its cars to Europe and elsewhere by mid-2010.
The company will export about 110,000 units in 2010-11, with the number going up to 180,000 units within two years.
The proposed joint venture will combine MOL’s global auto transportation and yard management expertise with Sical’s integrated logistics competencies and will target India-based automotive exporters or importers.
The auto yard will manage automotive as a completely built-up unit (CBU) form.
When asked about the investment details and shareholding pattern, Sridhar said that it is presently working on that and will come to conclusion by September.
Sical Logistics, a provider of multi-modal integrated solutions for the logistics of bulk and containerised cargo has walk-in berth for ships with bulk cargo in Chennai, container terminal in Tuticorin, 17 warehouses and container freight stations at three locations in India.