Logistics firms expanding base in Visakhapatnam
Visakhapatnam: Visakhapatnam is fast turning into a logistics hub with several container freight stations (CFS) looking at the port city to set up their offices. The state government has also decided to market the port city as a major logistics hub in the state. According to sources, at least six CFS projects, warehousing complexes and multi-modal logistics parks are in various stages of establishment in and around the city.
About 400 acres of land has already been identified at Anakapalli for logistics. The AP government and the Visakhapatnam Port Trust are jointly executing the project. A detailed project report is being prepared. It will be ready by this month end. However, the government will take a final call on the role it will play in the logistics hub.
Three different projects are also being planned by Sravan Shipping Services at different locations in the city. They are CFS, free trade warehousing zone-cum-logistics park and logistics-cum-warehousing complex.
Visakha Container Terminal Private Limited (VCTPL) is establishing a container freight station with an estimated investment of Rs 60 crore on a parcel of land provided by Visakhapatnam Port Trust (VPT). The VCTPL is expected to be launched later this month.
The Container Corporation of India (Concor) is also developing a multi-modal logistics hub on 100 acres with an investment of Rs 372 crore. Also, a joint venture multi-modal logistics hub is being undertaken by VPT in association with Balmer Lawrie and Co Limited. It is investing around Rs 211 crore in the city.
“Many logistics providers are preparing for the future requirements by making investments now. There is no doubt that container cargo will increase in the coming years once new industries start coming up in the region,” said a shipping industrialist. With the expansion of the container terminal at VPT, the capacity at the terminal will increase to 0.9 million tonnes.
Source By: http://timesofindia.indiatimes.com/