This new CFS , being opposite to Vallarpadam with a good strategic advantage, is expected to prove a good vibrant facility to decongest the port when the trade gains in future which it will. APM Terminals Inland Services and MIV Logistics have come together for this new CFS near Vallarpadam terminal in Kochi, Kerala. The Chairman of MIV Logistics Mr. T.Balakrishnan and the MD, APM Terminals India Private Limited signed the agreement in the presence of Mr.Michael Lund Hansen, Regional Director, Asia Specific, APM Terminals and the Board of Directors of MIV Logistics. The new CFS is expected to become fully operational by October 2013. When it reaches complete operations, Mr. T.Balakrishnan said that the facility “will have the capacity of handling 100.000 Twenty Foot Equivalent Unit (TEU) per annum, both for exports and imports. It will have a warehouse storage area of 60,000 square feet an open yard of approximately 500,000 square feet”. During the agreement period of ten years, MIV Logistics will own the facility and APM Terminals India Private Limited will provide both personnel and equipment. The APM Terminals will take care of all operations of the facility and, as Mr.T.Balakrishnan said,the revenue will be shared between MIV Logistics and APM Terminals. INKEL Limited, along with MFar Enterprises Private Limited and VKL Estates Private Limited, promotes MIV Logistics. INKEL established by the Government of Kerala, as it describes itself in its website, “is an innovative Public Private Partnership (PPP) initiative which brings together Government Agencies and prominent global investors and NRI industrialists and businessmen”.
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