Thaindian News

Kolkata, Aug 26 (IANS) Apeejay Infralogistics, a 50:50 joint venture between the Apeejay Surrendra Group and Britain-based Eredene Capital Plc, Thursday announced the start of two new logistics parks in Haldia, West Bengal, and Kalinganagar, Orissa.
“So far we have invested Rs.50-60 crore for both the projects,” Karan Paul, chairman, Apeejay Surrendra Group, said here.

Erdene Capital has invested in 11 projects in India.

The Haldia project would take another two-and-a-half year to be completed in phases. To be built on 90 acres, the project would entail investment of Rs.75 crore in phase I, Rs.75 crore in phase II and Rs.50 crore in phase III.

The estimated project cost for the Kalinganagar park is Rs.50 crore, it would be built in two phases. It will be constructed on 30 acres.

Together, both the logistics hubs would provide 1 million square feet of warehousing space.

The 90-acre Haldia Logistics Park would provide space for storage for domestic and EXIM cargo, consolidation, deconsolidation, stuffing and destuffing.

Asked about the revenues from both the projects, Paul said: “In the first year Rs.25 crore revenue is expected from the Haldia project.” This amount would go up to Rs.100 crore after the entire project is completed.

From the Kalinganagar project, Rs.10-15 crore is expected in the first year, which would go up to Rs.50 crore when the park is fully scaled up.