Sical Logistics Initiates Work on Nagpur Sical Gupta Road Terminal at MIHAN

Logistics Insight Asia - Industry News, 14/3/2008

Sical Logistics Ltd, India’s leading provider of integrated multi-modal logistics solutions for bulk and containerized cargo and offshore logistics, has initiated work on the Nagpur Sical Gupta Road Terminal with the ground-breaking ceremony at the road terminal site at the Multimodal International Hub Airport at Nagpur (MIHAN) today. The foundation stone was laid by Hon’ble Shri. Villas Muttemwar, Minister of New & Renewable Energy, Government of India in the presence of guest of honor Shri. Nitin Gadkari, President, BJP Maharashtra, Mr RC Sinha, Vice Chairman and MD Maharashtra Airport Development Company (MADC), Mr Ashwin C Muthiah, Chairman Sical Logistics and Mr Padmesh Gupta, Chairman, Gupta Group of Industries.

A special purpose vehicle, Nagpur Sical Gupta Road Terminal Ltd (NSGRTL), comprising of Sical with 51% stake, MADC with 26% stake and Gupta Coal with 23% stake, will build, operate and manage the road terminal. The total project cost is estimated to be Rs.119.3 crore, with a debt equity ratio of about 1:1. The road terminal will stretch across a 60 hectare plot and have parking facilities for 1,150 vehicles including multi-axle vehicles, warehousing space of 0.5 million sq. ft, 15 hectares of open plots and 45000 sqft of cold storage area.

Sical Logistics Ltd, www.sical.com