DHL to set up logistics facility near chennai, to invest $10 million

Chennai: Global logistics market leader, DHL is setting up a logistics and warehousing facility with an initial investment of $10 million at the upcoming free trade warehousing zone ( FTWZ) at Sriperambadur near Chennai. Expected to be ready by November, it will facilitate ease of trade for businesses across different industries.
DHL’s site at the zone spread over a total area of 2.6 lakh sq ft will have a ware housing facility on 1.3 lakh sq ft. It will provide consolidated operations for distribution management and trading, both into and out of India, with inventories held in India on the accounts of foreign or Indian entities.
DHL will be the first global logistics company to set up a facility within a notified FTWZ. The zone is being developed on 250 acres by infrastructure developer Sunil Rallan. His venture is also investing $10 million to create the basic infrastructure for DHL, its anchor client.
DHL Global forwarding, South Asia Pacific, chief executive officer Amadou Diallo said the company decided to create its first logistics hub in India inspired by the successful operation of its facilities in Dubai (Jebel Ali) and Singapore. He said with the growing trade volume in the region and a number of global players setting up their facilities in India, the Indian logistics market, witnessing a CAGR of 9.9%, is expected to touch $120.42 billion by 2014.
28/05/10 Economic Times

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Categories: Cargo May 2010, Foreign May 2010, New May 2010