Indicon plans Rs 500-crore container unit

NEW DELHI: Indicon Logistics, a KC Thapar Group company, will invest Rs 500 crore over the next three years for setting up new container manufacturing factories, a company executive said on Thursday.

Indicon has invested Rs 40 crore for setting up its first container facility at Ranchi with a capacity to make 1,200 twenty-foot equivalent unit, or TEU, containers a month. TEU is used to describe cargo capacity of container ships and terminals.

Indicon has tied up with State Bank for raising debt for the project and is in talks for funding its next manufacturing unit proposed to be set up during 2011-12. In the first phase, the company is investing 100 crore on its manufacturing and container leasing facilities.

"In the next phase, we will diversify into the development of logistics infrastructure like integrated logistics hubs, container freight stations and inland container depots and cold chain and warehousing solutions," said Indicon director Varun Thapar.