Hyderabad-based Kribhco Continental Multimodel Logistic Park Limited, a joint venture between fertiliser manufacturing cooperative society Kribhco and the NDR Group of Companies, will be setting up seven inland container depots (ICDs) across the country — each involving an investment of about Rs 80 crore — over the next three years.
“The new ICDs will come up in Ahmedabad, Bangalore, Chennai, Panipat, Tuticorin, Ludhiana and Indore. We propose to go in for an equity issue to fund these proposed projects,” N Adikesavulu Reddy, director of Kribhco Continental and chairman of the NDR Group, told mediapersons here on Monday.
Union minister of state for railways KH Muniyappa today laid the foundation stone for Kribhco Continental’s railway siding facility under the South Central Railway. The proposed facility, part of the logistics park at Timmapur in Mahabubnagar district, is the first rail-linked ICD of the group offering integrated services. It will have three full-length lines capable of handling container and non-container trains.
“The logistics park at Timmapur, coming up on 50-acre, will entail an investment of Rs 111 crore, of which Rs 34 crore is being infused by Kribhco Continental and NDR while the rest will be raised from banks,” Reddy said. Commercial operations of the ICD were expected from December.
The Timmapur ICD will have 60,000 square metre of paved area and 30,000 sqm of warehousing facilities, besides provision for wagon handling. It will also generate jobs for 1,000 locals, both direct and indirect. “We expect to handle 15,000 laden and empty containers from the Timmapur ICD in the first year of operations,” Reddy said.
“This facility will contribute to the growth of the industry and agriculture of Hyderabad and the neighbouring districts by facilitating improved logistics and storage,” said Muniyappa. The NDR group is a Rs 100-crore diversified group.
