Apollo LogiSolutions and Spire Group enter into JV
Apollo LogiSolutions Limited, (ALL) a subsidiary of Apollo International Limited and Spire Group Limited of Toronto, Canada, executed a joint venture (JV) agreement yesterday in Mumbai for US $ 250 million to construct and operate temperature controlled warehouses in India. The JV will operate under the name "Apollo Everest Kool Solutions".
Tweet-- Apollo LogiSolutions Limited, (ALL) a subsidiary of Apollo International Limited and Spire Group Limited of Toronto, Canada, executed a joint venture (JV) agreement yesterday in Mumbai for US $ 250 million to construct and operate temperature controlled warehouses in India. The JV will operate under the name “Apollo Everest Kool Solutions”.
Mr. Patrick A. Gouveia, owner of Spire Group Limited, www.groupspire.com ,of Toronto, Canada, operated the second largest public refrigerated company in North America with 54 facilities (240 million cubic feet) and 5400 employees, has concluded a US$ 250 million joint venture with Apollo LogiSolutions Ltd as part of the global expansion of Spire Group into developing markets. Spire Group has facilities of US$ 450 million under contract in Romania, Maldova, Bulgaria, Ukraine, Russia and Montreal, Canada. There is an unprecedented demand for modern temperature controlled warehouse facilities to comply with international health and safety standards in these markets and to meet the burgeoning market created by consumer demands. The JV will construct up to 15 temperature controlled warehouses in India starting in 2008. The first two temperature – controlled facilities will be built in Mulund and Panvel. Spire Group will work with Apollo LogiSolutions in the design and construction of these facilities.
Commenting on the JV Mr. Raaja Kanwar, Managing Director, Apollo LogiSolutions Ltd. said “It is a joint venture of equal significance to both the groups. From Apollo we will bring to the table over three decades of business experience and professionalism. We are delighted to have the Spire Group as our partners and look forward to a mutually rewarding innings with them in the fast growing logistics business in India”.
Spire Group, with its team of experts, has many years of experience in the construction and management of temperature controlled warehouse facilities and can strategically develop distribution facilities tailored to the customers’ specific supply chain needs. Spire provides third party solutions. Mr. Patrick. A. Gouveia, Spire Group President, says “We are delighted to enter into this Joint Venture with a truly world class partner and we look forward to an exciting future together”.
Says Capt. Kapil Anand, President, Apollo LogiSolutions Ltd. “As India’s integration into the global economy strengthens, the container traffic is projected to increase about three folds in the next ten years. The requirement for state of the art logistics hubs with integrated cold chain facilities is the need of the hour. ALL is committed to provide solutions that would give its customers a competitive edge resulting from cost efficiencies and better service levels. We are very enthused about the Joint Venture as a well established partner will help us expand our services to cover the cold chain logistics.”
Notes to Editor
About Apollo LogiSolutions Limited:
Apollo LogiSolutions Ltd. (ALL) is Apollo International Ltd’s latest foray into the field of logistics. Apollo LogiSolutions intends to offer complete and comprehensive services in container and freight station space in the near future including the areas if transportation of containers to and from the port, cargo handling and consolidation, facilitating customs clearance, palletisation/ unitizing, labeling, bar coding and sorting of cargo, storage & warehousing including special warehousing of temperature / climate controlled, hazardous cargo, specially customized services like distribution & inventory management to meet the growing trade requirements.
Currently ALL is managing an ICD at Mulund. It is in the process of setting up a logistics hub in Panvel, at a distance of 32 kms from JNPT, India’s premier container port in Nhava-Sheva, near Mumbai. This facility strategically located along the National Highway network, spanning over 60 acres of land will be equipped with state of the art equipment, information technology and experienced staff to cater to all the needs of EXIM trade under one roof.