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Our Bureau

Kolkata, Oct. 7

MJ Logistics Services Ltd (MJLSL), in which the UK-based investment company, the Eredene Group, holds 90 per cent stake through an investment of Rs 85.4 crore, on Tuesday announced the opening of its first hub warehouse at Palwal on the Delhi-Agra highway.

The facility comprises two lakh sq ft with computer-controlled racked shelving and 20,000 pallet positions of ambient storage and temperature-controlled chambers all under one roof, according to a press release by the company.

The Palwal facility, to be the main hub, will be linked to two similar but smaller “spoke” warehouses being set up at Zirakpur (Punjab) and Haridwar (Uttarakhand) thus covering the industrial regions in the north.

The new facilities will also offer online tracking and back-office services such as packing, labelling and kitting. The total investment at the three centres, it is estimated, will be over Rs 200 crore. The centres would adopt pay-per-use policy model for the customers, the press release adds.

MJLSL has until now operated from traditional leased warehouses serving a number of corporate clients such as Philips, Godrej, Colgate-Palmolive, Hindustan Unilever, Coca- Cola and ITC, among others.

The Eredene Group’s stake in MJLSL, according to the company Web site, will decline to 74 per cent “as agreed milestones are met over a period of five years”.

Eredene Capital Plc, which invests in infrastructure projects in India with focus on logistics, distribution warehouses and port services, has so far made nine investments in India and these include Sattya Vichoor CFS, Sattya Conware CFS, Pipavav CFS, Baroda ICD, Haldia Logistics Park, Kalinganagar Logistics Park, M J Logistics Services, Sribha Infrastructure Solutions and Matheran Realty.

Eredene trades on the Alternative Investment Market of the London Stock Exchange.

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