Apollo arm to get into CFS segment

Apollo International, a subsidiary of the Apollo Tyres group, will invest Rs 300 crore in next two years for setting up container freight stations (CFS) and inland container depot (ICD) at various ports of the country.

The group is actively looking at Jawaharlal Nehru Port Trust (JNPT) in Navi Mumbai and other locations including Kerala and North India.

"Apollo International is looking at huge facility at JNPT and will invest Rs 150 crore for setting up CFS and ICD," Apollo International chief executive officer (Logistics) Kapil Anand said.

The company will acquire 60 to 100 acres land in the vicinity of JN Port. The facility is likely to launch in a year's time.

Industry sources said the company would also set up a distribution centre at JN Port which will include assembling, packaging, repacking, grading and distribution.

"The proposed facility will also include a modern container repair facility along with the distribution centre. The company is in the process of acquiring land for the proposed project," sources said.

Anand said the company aims at converting it into a 4PL (four party logistics) player in the industry, offering complete logistics solutions under one roof.

"Under the Phase I programme of JNPT, we are planning to handle 50,000 twenty foot equivalent units (TEUs) per annum and further scale it up," Anand said.

Apollo International Limited (AIL) is part of the Apollo Tyres group, engaged in imports and exports of various commodities including automotive tyres & tubes and enjoys the status of a recognised export house.