Sical in JV with Japanese firm

City-based Sical Logistics has signed a memorandum of understanding (MoU) with shipping and logistics company Mitsui OSK Lines to set up a joint venture for an automotive management yard at Ennore port, near here.

The proposed JV will combine Japanese firm’s global auto transportation and yard management expertise with Sical’s integrated logistics competencies and will target India-based automotive exporters or importers. The auto yard will manage automotive in complete built-up unit form.

When asked about the investment details and shareholding pattern, Sical Logistics managing director LR Sridhar said it was being working out and would be finalised by September.

Sridhar told Business Standard that Nissan Motor India Pvt Ltd had signed an MoU with Ennore Port Ltd for exporting its vehicles through the port. While the berth will be constructed by the port, the company will take care of the yard management. Nissan Motor India, which will get priority for using the marine facilities, will start exporting its cars to Europe and elsewhere by mid-2010. The company will export about 110,000 units in 2010-11, with the number going up to 180,000 units within two years.