Arshiya enters into deal with Singapore govt

MUMBAI: Arshiya International has signed a contract with Singapore government owned Jurong International, for undertaking master planning, architecture and engineering of the company's three free trade warehousing zones coming up near Mumbai, Delhi and Sohar (Oman).

This work would be carried out in three stages, which would bring in the world-class facilities in industrial park development to India and Oman.

The company would develop 3 warehousing hubs in central, south and east India and 35 sub-hubs in the country and the Middle East by end of 2012 under the second phase of its expansion plans.

It will invest Rs 3,000 crore in port-based infrastructure and special warehousing zones, as part of phase one expansion, to be completed in the 3 years. This includes setting up two free-trade warehouse zones hubs in Mumbai and Greater Noida, and developing a similar hub and three sub-hubs in Sohar, Oman.

These hubs would be spread over 200-250 acres each, while the sub-hubs would be smaller units in 15-20 acres. The land acquisition for the FTWZ near JNPT in Mumbai is near completion and construction is likely to start by April this year. Work for the one in Greater Noida will start by June 2008. The company has applied for a rail licence and is spending Rs 110 crore in acquiring 11 rakes in phase one.

At 1:20 pm, Arshiya International shares were down 0.49 per cent at Rs 272 on BSE.