Sical Logistics to develop terminals by 2011

Chennai: Sical Logistics is planning to make strategic investments of Rs 862 crore in developing terminals at Chennai, Bangalore, Panvel and Nagpur which are expected to be operational by 2011.

They are planning to acquire all 13 rakes by then. The investment includes a pan-India licence of Rs 50 crore valid for 20 years. Sical Multimodal and Rail Transport, a 100 per cent subsidiary of Sical entered into a strategic tie-up with Sattva Conware in February this year to execute these projects. These project are expected to be executed with a debt equity ratio of 2:1.

Sical Logistics initiated the operations of its second container train from Melpakkam rail terminal near Arakonam,70 km from Chennai. Ashwin C Muthiah, chairman Sical Logistics said,'The expansion of our container train operations to the North-South corridor will carry general cargo and industrial chemicals amongst others.'