GDL to develop CFS at Kochi
Gateway Distriparks Ltd’s 60% owned subsidiary, Gateway Distriparks (Kerala) Limited (GDKL), has been successful in winning a tender floated by Cochin Port Trust for a 2.58 hectare plot in Vallarpadam on a 30 year lease. It was a closely fought tender with 6 bidders for this prime site opposite the International Container Transhipment Terminal (ICTT).
ICTT, operated by DP World, will be one of the largest container terminals in India and is expected to make a significant change in the way maritime trade is conducted in India.
GDKL already owns an 8 hectare freehold property at Kalamasserry, which, together with this leasehold land of 2.58 hectares will enable GDKL to create adequate capacities to handle containers, in sync with the capacities and throughput of the ICTT. GDKL’s total investment at Vallarpadam and Kalamasserry will exceed Rs. 50 Crores, underlining GDL group’s commitment to Kochi/Kerala and the belief that this is the destination of the future.
GDKL, incorporated in 2006, is a joint venture between GDL and Chakiat Group with 60% & 40% respectively. GDL is one of the largest players in the container logistics industry with CFSs at Mumbai, Chennai, Vizag & now Kochi and rail-linked ICDs (Inland Container Depots) near Gurgaon (NCR) & Ludhiana. Chakiat is a well-established business group into shipping and related activities since 1952. Chakiat is also a shareholder of ICTT.
Source: Gateway Distriparks Ltd