The Hindu Business Line : Arshiya to launch Mumbai warehousing zone phase-I by Dec

Mumbai, April 15 Arshiya International, an integrated infrastructure solution provider, will inaugurate the first phase of free trade warehousing zone (FTWZ) near Jawaharlal Nehru Port Trust by this year-end, while the FTWZ at Khurja near Delhi is expected to go on stream by February 2010.

Mr Ajay S. Mittal, Chairman and Managing Director, said, “About 206 companies from 36 sectors have evinced interest to take space in the Mumbai FTWZ. We will also conduct road shows in different cities soon.” To start with, the company will organise a road show for Mumbai FTWZ in Chennai soon.

Rs 650-cr outlay

Of the total outlay of Rs 650 crore for the first phase of Mumbai FTWZ, Arshiya has made an equity investment of Rs 250 crore and had tied up debt of Rs 400 crore and is in the final stage of signing debt of Rs 550 crore for the Delhi FTWZ.

FTWZ is designated as a deemed foreign territory and is envisaged to be integrated zones and used as international trading hubs. FTWZ will be fully independent mega-trading hubs integrated with modern warehouse and special storage infrastructure, container freight stations, rail sidings for hinterland connectivity, commercial complexes for offices, banks and insurance corporations.

FTWZ would be a key link in logistics and global supply chains - servicing both India and the globe.

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Arshiya to launch Mumbai warehousing zone phase-I by Dec