BWI: Sri City Launches 500 acres Logistics and Warehousing Park

Press release from Business Wire India
Source: Sri City Pvt Ltd
Wednesday, July 29, 2009 04:03 PM IST (10:33 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Construction, Real estate
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Sri City Launches 500 acres Logistics and Warehousing Park
A S Cargo First to Sign Up, Plans to Invest Rs.100 crores

New Delhi, Delhi, India, Wednesday, July 29, 2009 -- (Business Wire India) -- Sri City Pvt Ltd is developing South India's largest private sector multi-product SEZ and Domestic Industrial Zone, today announced the launch of their exclusive 500 acre Logistics and Warehousing Park at the CII seminar on logistics and warehousing competitiveness, in New Delhi. The Park was inaugurated by Mr Ajay Shankar, Secretary, Department of Industrial Policy & Promotion, Ministry of Commerce & Industry, GOI. This 500-acre Logistics & Warehousing Park will form an exclusive zone in the 5,000+ acre Sri City SEZ with an adjacent Domestic Industrial Zone. 250-acres is allocated in the SEZ for the development of a Free Trade Warehousing Zone (FTWZ) and another 250 acres in the domestic industrial zone to meet the requirements of the growing Indian market. Proximity to 3 Ports - Chennai, Ennore and Krishnapatnam and two international airports, Chennai & Tirupathi and access on National Highway - 5, sets the right platform for the development of this Park.

The Sri City Logistics & Warehousing Park will attract investors from across the world for developing a world-class logistics hub to cater to the export and domestic markets across all sectors - engineering, auto/auto components, renewable energy, textile and agriculture, electronics, IT/BPO and others. The Park is expected to accommodate about 20 large logistics companies and generate employment for more than 3000 people in the industry. This development within the larger development of Sri City SEZ and domestic industrial zone provides an added advantage of a captive client base within Sri City where eventually 300 MNC and domestic companies are estimated to set up their facilities, according to the demand assessment study by Jones Lang LaSalle-Mehraj.

Mr. Ramesh Subramaniam, President, Sri City, said, "The Sri City Logistics and Warehousing Park comes at the right time when the $100-billion or Rs 4,70,000-crore logistics business in India is set to boom. The warehousing segment is estimated to be $20 billion Rs 94,000 crores in size, which is growing at a rate of about 14% per annum driven by the outsourcing trend to India & the burgeoning retail market in the country. " He also added, "the Park will meet the infrastructure facilities required for streamlined operations".

A S Cargo Ltd has entered into an agreement with Sri City as a co-developer to build the warehousing facilities in over 50 acres of land with an investment of Rs 100 crores. The Sri City Logistics & Warehousing Park will be equipped with the state-of-the-art trans-shipment facility and 3PL services, which would fulfill the industry's long awaited need for a park with a large area of land and the right infrastructure that would offer reliability and scalability.

Mr. Amar Rehman, Managing Director, A.S. Cargo Pvt Ltd, said, "Our business, especially the warehousing segment, requires large tracts of land. The real challenge has been to get contiguous and developed land, which is one of the prerequisites for the growth of the logistics business." He also said, "Players in the logistics business can avail the world-class infrastructure at Sri City such as 10-lane\6-lane\4-lane\2-lane road networks, good power supply in addition to the accessibility of 500-acres of land."

The two day seminar conducted by CII on "Building Warehousing Competitiveness - Adopt the Best" provided an industry perspective on the challenges and opportunities faced by logistics sector. Mr Ramesh Subramaniam, President, Sri City Pvt Ltd, who was present at the occasion, gave his insights into the growth of the sector in his speech on "Warehouses in Logistics Parks- The Future". The CII Logistics Task Force cited that the challenge to organized logistics and warehousing solutions would be fulfilled with the availability of vast tracts of land and infrastructure for the development of the parks.

About Sri City

Sri City is an emerging world-class Business City located 55-kms from Chennai. It has the distinction of being the largest private sector multi-product Special Economic Zone (SEZ) and a Domestic Industrial Zone in South India built in functional partnership with the Government of Andhra Pradesh.

Spread over 5000+ acres, Sri City has the dual advantage of a Multi-product Special Economic Zone with an adjacent Domestic Industrial Zone. Strategically located, Sri City offers the distinct advantage of well-established connectivity by rail, and road with proximity to three seaports and two airports.

Built on the concept of 'park-within park' concept and master-planned by Jurong Consultants, Singapore, Sri City is an integrated development of a world-class business township. The various parks within the City will include separate zones for logistics & warehousing, aerospace, engineering, electronics, biotech/pharma and IT/BPO. These parks will offer complete business solutions to the industries located here that includes robust industrial infrastructure such as road, water, power, telecom and sewer networks complemented by lifestyle features like residential areas, commercial hubs, healthcare, educational institutions, recreation centers and all support amenities.


CONTACT DETAILS
Ms Raghini Peter, Vice President - Business Development, Sri City Pvt Ltd, +91 (44) 39402000, raghini@sricity.in
Suresh, IPAN Hill & Knowlton, +91 (44) 28202548, suresh.krishnan@ipan.com
Aarthi, IPAN Hill & Knowlton, +91 (44) 28275294, aarthi.jayaram@ipan.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, CONSTRUCTION, REAL ESTATE

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