Gateway Distriparks' Kerala JV bags CFS project at Vallarpadam

MUMBAI: Gateway Distriparks (Kerala) (GDKL), the joint venture floated by Gateway Distriparks and Chakiat group has won Cochin Port Trust tender to develop CFS opposite Vallarpadam Port, Kochi. In a closely fought tender with six bidders for the prime plot opposite the International Container Transhipment Terminal (ICTT), the company won it project which on lease for 30 years.

ICTT, operated by DP World, will be one of the largest container terminals in India and is expected to make a significant change in the way maritime trade is conducted in India.

GDKL already owns an 8 hectare freehold property at Kalamasserry, which, together with this leasehold land of 2.58 hectares will enable it to create adequate capacities to handle containers, in sync with the capacities and throughput of the ICTT.

Incorporated in 2006, GDKL a joint venture between GDL and Chakiat group with 60:40 partnership. The company's total investment at Vallarpadam andKalamasserry will exceed Rs 50 crore. GDL is one of the largest players in the container logistics industry with CFSs at Mumbai, Chennai, Vizag & now Kochi and rail-linked ICDs near Gurgaon (NCR) & Ludhiana.

Chakiat is a well-established business group into shipping and related activities since 1952. It is also a shareholder of ICTT.