By IANS
Mumbai : Indian supply chain management company Arshiya International Ltd (AIL) has signed a contract with the Singapore government-owned Jurong International for the development of three free trade warehousing zones (FTWZs.)
“The FTWZs are coming up in Jawaharlal Nehru Port Trust (JNPT) in Mumbai, one in Delhi and one in Sohar (Oman),” V. Shiv Kumar, company secretary of AIL, told IANS.
According to Kumar, the total project cost is Rs.30 billion ($754 million) and the first phase investment would be Rs.18 billion ($452.6 million).
About 200 acres of land near JNPT has already been acquired for the Mumbai FTWZ. The acquisition process for the other two is nearly complete, according to Kumar.
In a filing with the Bombay Stock Exchange (BSE), the company Monday said the work would be carried out in three phases and Jurong would primarily deal with the master planning and architectural designing of the three FTWZs.