Sravan to set up CFSs at Mumbai, Haldia ports

Visakhapatnam-based Sravan Shipping Group (SSG) will be setting up container freight stations (CFS) at Mumbai and Haldia ports at an investment of Rs 50 crore.

Sravan Shipping is into the business of warehousing and stevedoring besides acting as steamer, clearing and forwarding agents and transport contractors at Vizag, Kakinada and Chennai ports. It also operates a container freight station at the Vizag port.

"In the financial year ended March 31, 2006, we handled about 23,540 container boxes at our Vizag CFS. Buoyed by this, we have decided to open CFSs at Mumbai and Haldia ports in the next two years at an estimated investment of Rs 50 crore," Sravan Shipping Group managing director G Sambasiva Rao told Business Standard.

In addition to the two CFSs, the company would be investing around Rs 12 crore in the current financial year in developing covered stockyards and warehouses at Vizag and Kakinada ports, and in procuring second top lifter and other mechanical equipment for the Vizag CFS, he added.

Sravan Shipping posted a turnover of Rs 25 crore in the financial year ended March 31, 2006, as compared to Rs 10 crore in 2004-05, registering a growth of 150 per cent.

"While cargo handling and other port activities contributed to 75 per cent of the total turnover, earnings from the container freight station operations accounted for the remaining 25 per cent," Rao said.

In 2005-06, the shipping services company handled about 10 lakh tonnes of cargo at Vizag and Kakinada ports. It expects its cargo handling to touch 15 lakh tonnes in the current financial year.