Sical Logistics, engaged in port handling services, today said it has entered into an agreement with Japan's Mitsui O S K Lines to form a joint venture company to operate the automotives yard at the Ennore Port near Chennai.
While Sical would have 45 per cent stake, Mitsui O S K Lines would hold the rest in the joint venture company scheduled to commence by the next fiscal, Sical Logistics said in a filing to the Bombay Stock Exchange.
The proposed yard would manage automotives in completely built-up unit form and will cater to the automotive exporters/importers based in India, the filing added.
Shares of Sical Logistics were trading at Rs 64.30 on the BSE, up 4.05 per cent from previous close.
Top Section
Explore Business Standard