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Gateway Distriparks to operate Punjab Conware

BS Reporter  |  Mumbai 

Gateway Distriparks (GDL), a container logistics company, has been selected to operate and manage (O&M) Punjab Conware, Punjab Government's Container Freight Station (CFS) near Jawaharlal Nehru Port Trust (JNPT) for a period of 15 years.
Punjab State Container & Warehousing Corporation (Conware) has invited request for proposal (RFP) for engaging an Operations and Management Contractor for the Container Freight Station (CFS) at Navi Mumbai.
Gateway Distriparks was emerged as lowest bidder for the contract for Punjab Conware, which is located about 7 Km from JN Port. Besides a large container yard, the CFS also has covered storage area of 52,500 sq. meters, consisting of 4 warehouses.
GDL will be required to pay one-time upfront fee of Rs 35 crore and an annual fee, which will be Rs 10 crore in the first year.
"We consider JNP, India's leading container port, to be a major focus area of our CFS business. Our present 35 acre CFS at JNP has a capacity to handle 216,000 TEUs and contributes 75 per cent of our present throughput. This strategic initiative will substantially increase GDL's capabilities and range of services. This will also provide GDL a huge operating leverage to rapidly increase its market share and customer base" said Gopinath Pillai, Chairman, GDL.
Punjab Conware commenced operations in August 1999. During the year ended 31 March 2006, the CFS achieved throughput of 55,662 TEUs and EBIDTA of Rs 13.80 crore.
Ernst & Young were the Financial Advisors to Conware to advise and manage the selection process.

First Published: Wed, December 27 2006. 00:00 IST