Sical Logistics Ltd, India’s leading provider of integrated multi-modal logistics solutions for bulk and containerized cargo and offshore logistics, signed the shareholders agreement on 22 Aug ’07 with the Maharashtra Airport Development Company (MADC) and Gupta Coal for developing the Road Terminal at the Multimodal International Hub Airport at Nagpur (MIHAN).

A special purpose vehicle (SPV), Nagpur Sical Gupta Road Terminal Ltd (NSGRTL), was formed in April 2007 to build and operate the MIHAN Road Terminal. Sical will have 51% stake in the project and MADC and Gupta Coal will have 26% and 23% stakes respectively .The memorandum of understanding (MOU) between MADC and Sical was signed at Singapore in November 2006.

NSGRTL, the SPV company also signed the lease agreement with MADC for the land, for 66 years. The Road Terminal, which will be spread over a 60 hectare plot, will be developed at a project of cost of Rs 119 crores.

Sical Managing Director and Group CEO Sudhir S. Rangnekar said, “The Sical Road and Rail Terminals in MIHAN will be the largest logistics hubs in the country with world class infrastructure and state of the art facilities. We are delighted at the signing of the agreements with MADC and expect to commence work in Sep ‘07.The Road Terminal will have parking facilities for 1150 vehicles including multi-axle vehicles, warehousing space of 0.5million sqft, 15 hectares of open plots and 45000 sqft of cold storage facility.”

The MADC Vice Chairman Mr. R C Sinha said, “The MIHAN project is critical for the economic development of Vidharba. The ambitious project will create 1,20,000 direct jobs and 2,40,000 jobs in the allied sector. We are pleased to have Sical as our partner in growth. We are confident that the terminals will be world class, keeping in mind the rich experience and repute of Sical.”

MIHAN Rail Terminal

The Sical led consortium of MADC and Gupta Coal is also building the MIHAN Rail Terminal at Nagpur, which will be developed on a 24 hectare leased plot with electrified rail siding on a Build Operate Transfer basis. The terminal will have a capacity of 1,50,000 TEUs per annum and is expected to be operational by next financial year. The SPV for the same has been incorporated and the necessary agreements with MADC for the project will be signed in the next few months.

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About Sical

Sical Logistics Ltd is India’s leading integrated multi-modal bulk and containerized logistics solutions provider handling around 22mn tones of bulk cargo as well as over 5,00,000 TEUs of containerized cargo. Headquartered in Chennai in the south of India, Sical (formerly South India Corporation Agencies Limited) is listed on the Mumbai Stock Exchange and the National Stock Exchange.

The services of the company are segmented as:

v Bulk-Stevedoring/ Port terminals/ Customs and agency services/ trucking/ railroad/ warehousing

v Container- Container terminals/ ICDs/CFS

v Offshore- O&M of Platform Supply Vessels for ONGC/ owning PSV

Sical's delivery network includes an exclusive walk-in berth at Chennai for ships carrying bulk cargo; a container terminal at Tuticorin, 4.5 lakh square feet of storage across over 92 warehouses; owned and regularly contracted fleet of over 2500 transport vehicles, and container freight stations at 4 locations across India. Sical's FY2006-07 revenue was Rs 9.90 billion on Rs 301.9 million equity capital.