ALSO READBalmer Lawrie drops after weak Q1 results Balmer Lawrie Investment standalone net profit rises 7.45% in the March 2017 quarter Balmer Lawrie Investment standalone net profit rises 31.33% in the June 2017 quarter Balmer Lawrie & Company standalone net profit rises 6.08% in the March 2017 quarter Balmer Lawrie & Company standalone net profit declines 19.48% in the June 2017 quarter
The state-run diversified firm Balmer Lawrie & Co Ltd is expecting to commission its multi-modal logistic hub at Vizag in the January-March quarter of the current fiscal, an official said on Thursday.
"We are setting up multi modal logistics hub (MMLH) project at Vizag in partnership with Visakhapatnam Port Trust (VPT). In this MMLH, facilities will be created for handling Exim (export and import) and domestic cargo. The commissioning of the same is expected in the last quarter of financial year 2017-18," company's Chairman and Managing Director Prabal Basu said.
The city headquartered company is in various verticals including industrial packaging, greases and lubricants, leather chemicals, refinery and oil field services, logistics, travel and vacations.
Its first temperature controlled warehouse (TCW) was commissioned in Hyderabad in March 2016. The second TCW has been established at Rai and is ready for operation.
"Some statutory approvals are awaited from the state government," he said while addressing the shareholders in 100th Annual General Meeting.
The third one at Patalganga near Taloja in Navi Mumbai was expected to be ready for commercial operation by end of this fiscal, Basu said.
The company was looking to invest Rs 150-200 crore primarily in the logistics and industrial packaging businesses over the next two years, he said.
The company said its leather chemicals business had plans to foray into the Finishing Chemical segment by leveraging the existing distribution network, technical service centres.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)