Arshiya plans free trade warehousing zone in Mumbai

Mumbai: Arshiya International, Logistics and supply chain solutions provider, plans to establish a Rs 530-crore Free Trade Warehousing Zone in Mumbai by January 2010.

Mr Ajay S. Mittal, Chairman and Managing Director, said that the company was also awaiting the formal approval for another FTWZ project at Khurja, near Noida.

Mr Mittal said the debt equity ratio was 2:1, and the company was in the process of finalising the debt component with bankers.

Arshiya International’s 100 per cent subsidiary Arshiya Rail Infrastructure, which has deployed 30 rakes for Vedanta Aluminium, plans to add 45 more rakes. Each of the rakes cost Rs 12 crore. The payback period of the first 30 rakes would be about three years, Mr Mittal said, while adding that it was a long-term contract with Vedanta.

“Being cost and time-effective, companies in the steel, automobile and chemical sectors, besides FMCG and food are keen on tying up with us,” he said.

Arshiya Rail Infra provides customised rail solutions with industry/product specific designed containers for companies which have large evacuation requirements.