The Container Freight Station (CFS) is managed by APM Terminals India Private Limited in a location near to Vallarpadam terminal and it is to become fully operational by October 2013. The final agreement is being signed by Mr.T.Balakrishnan, Chairman of MIV Logistics Private Limited and Mr.Subhasis Ghosh, MD , APM Terminals India Private Limited. The agreement entrusts the operation and the management of the station to APM Terminals. According to the Chairman of MIV Logistics, when the CFS turns fully operational, it will acquire a capacity to handle 1 lakh Twenty-foot-equivalent unit (TEU) a year, both for export and import. It has a warehouse of 60,000 square feet capacity with an open yard of 5 lakh square feet for storage containers. The agreement is for duration of ten years. MIV Logistics will own the permanent facilities while the O&M will provide not only the equipment for operation but also the personnel for operation. Besides own resources, the project is funded by a term loan to the tune of INR 45 crore from State Bank of Travancore. The loan agreement has been signed with State Bank of Travancore. SBI Capital Markets Limited, Mumbai mobilized the fund for the project. The CFS near Vallarpadam is of 18.5 acres of land and it is being developed by MIV Logistics Private Limited at the cost of INR 70 crore. APM operates ports and freight stations in India and it has 7 CFS in India.
Friday, 24 August 2012
APM managed CFS to begin operations in October 2013
The Container Freight Station (CFS) is managed by APM Terminals India Private Limited in a location near to Vallarpadam terminal and it is to become fully operational by October 2013. The final agreement is being signed by Mr.T.Balakrishnan, Chairman of MIV Logistics Private Limited and Mr.Subhasis Ghosh, MD , APM Terminals India Private Limited. The agreement entrusts the operation and the management of the station to APM Terminals. According to the Chairman of MIV Logistics, when the CFS turns fully operational, it will acquire a capacity to handle 1 lakh Twenty-foot-equivalent unit (TEU) a year, both for export and import. It has a warehouse of 60,000 square feet capacity with an open yard of 5 lakh square feet for storage containers. The agreement is for duration of ten years. MIV Logistics will own the permanent facilities while the O&M will provide not only the equipment for operation but also the personnel for operation. Besides own resources, the project is funded by a term loan to the tune of INR 45 crore from State Bank of Travancore. The loan agreement has been signed with State Bank of Travancore. SBI Capital Markets Limited, Mumbai mobilized the fund for the project. The CFS near Vallarpadam is of 18.5 acres of land and it is being developed by MIV Logistics Private Limited at the cost of INR 70 crore. APM operates ports and freight stations in India and it has 7 CFS in India.
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