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| Maersk lines up Rs 120 cr |
| TE Narasimhan / Chennai Dec 04, 2009, 00:20 IST |
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Opens container freight station in Chennai
Maersk India Pvt Ltd, part of the Danish oil and shipping group AP Moller- Maersk, is planning to invest around $25 million (Rs 120 crore) to set up container depots across the country.
The company on Wednesday inaugurated its container freight station (CFS) at Annuppampattu village in Ponneri taluk near here. It has invested $10 million in the facility, which can handle up to 70,000 twenty feet equivalent units (TEUs) in the first phase, said Hans Henrik S Hansen, cluster manager – Bangladesh, India, Pakistan and Sri Lanka, Maersk India.
This is Maersk’s fourth CFS in India. It has two in Mumbai and one in Dadri.
The company is also planning to set up container repair centres, cold chains and other infrastructure to support exim (export and import) containers. “We would like to offer all the services relating to containers in the country,” said Hansen.
On whether they would enter the railway transportation system, he said, the company had a tie-up with Container Corporation of India and was closely following government’s move on the privatisation of rail industry. “Though we don’t have an immediate plan, we can never rule out,” he said.
As part of its India expansion, Maersk is looking at offering logistics solutions to domestic customers. “So far, we have been catering to exim customers. But now we are planning to enter domestic logistics solutions and our focus will be on container movement,” said Hansen.
The company has set a target to double its revenue from India, which is around $50 million (container depot or land side activities) annually.
“We are also looking for some good acquisition opportunities,” said Hansen, adding this would give geography strength, customers and market to the company.
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