Mitsui plans Rs 300-crore logistics JV

NEW DELHI: Japanese firm Mitsui, IL&FS and Mines and Mineral Trading Corporation (MMTC) plan to invest Rs 300 crore to set up a logistics facility centre in Greater Noida. The JV will acquire 1 lakh sq mt plot to construct container yards, warehouses and car transfer units in the proposed location. “We are in the process of tying up with MMTC and IL&FS. The modalities of the JV is still under consideration,” a senior executive of MitSui said.

Mitsui has plans to tieup with Indian container operators and run container business through the proposed rail yard in the Greater Noida facility. Other than this, the company is also looking at setting up of truck loading and unloading yard, car transport yard and a multipurpose warehouse.

“Setting up of car transport facility is just in its inception stage. If the proposal comes through, it could prove to be a major business model. As far as joining hands with local container transporters, we are keen on forging JVs with them. At present, we are on a look-out for a suitable partner,” he said.

The facility at Greater Noida would also have a direct rail connection, for which, the companies have initiated talks with the Indian Railways. Last year, a committee comprising Noida officials and UP politicians, decided to allocate land to Mitsui and various other Japanese companies like Yamaha and Honda in Greater Noida. The UP government had invited a Japanese delegation to visit Greater Noida and explore investment opportunities.