Gateway Distriparks - Must Have In Portfolio

Gateway Distriparks - No Stopping This Juggernaut

Gateway Distriparks Ltd (GDL) has filed an application with the Ministry of Railways to operate container trains under all categories including export-import and domestic containerised cargo on all-India basis. The company has paid Rs 50 crore as registration fees and submitted the application requesting permission to move container trains as per the recently announced policy by Indian Railways.

Till now Container Corporation of India (CONCOR) was the only logistics operator moving the container trains in the country. GDL would initially move containers between its existing rail linked inland container depot (ICD) at Garhi Harsaru, Gurgaon and the ports at Mumbai, Pipavav and Mundra.

Earlier, GDL had signed an agreement with CONCOR to work jointly towards business development for mutual benefit. It also included facilitating export-import trade by providing ICD facility and rail connectivity to various gateway ports from the company’s ICD at Garhi Harsaru. Meanwhile, GDL is planning to add more rail linked ICDs at various strategic locations and would have a national network of container freight stations (CFSs) and ICDs, catering to movement of export-import trade and also domestic containerised cargo across the country.

“This is a significant milestone for us. We have been preparing for this moment for quite some time. We believe that our existing rail linked ICD at Garhi Harsaru, Gurgaon will give us a headstart in the rail container transportation business” said Gopinath Pillai, chairman, Gateway Distriparks. Pillai added that the company is also evaluating various options to set-up rail linked ICDs at strategic locations across the country. “We are confident that this will play a key role in consolidating our position as an integrated logistics provider in the coming years”, he said. Pillai pointed out that the company had raised $85 million through its maiden global depository receipts (GDR ) offering in December 2005, issuing 16,660,000 GDRs representing 18.07 per cent of the post issue equity. The GDR proceeds would be utilised to fund the rail initiative and also in strategic acquisitions and expansions.