APM-managed CFS to open in December
The container freight station (CFS) managed by APM Terminals India in the vicinity of Vallarpadam terminal will become fully operational by October 2013. The facility is expected to be partly operational by December-end, reported The Hindu.
The final agreement for entrusting the operation and management of the facility to APM Terminals will be signed by T. Balakrishnan, chairman of MIV Logistics and Subhasis Ghosh, managing director, APM Terminals India.
Balakrishnan said the facility when fully commissioned will have a capacity to handle 100,000 TEUs a year, both for export and import. It will have a warehouse of 60,000 sq ft capacity and an open yard of over 500,000 sq ft for storage of containers.
He said the duration of the agreement is 10 years.
The permanent facilities will be owned by MIV Logistics and the equipment for operation and the operating personnel will be provided by the O&M operator.
All operational expenses will be borne by APM Terminals. The gross revenue will be shared by MIV and APM Terminals at agreed proportions, he said.
MIV Logistics is developing the CFS on 18.5 acres near Vallarpadam at an estimated cost of US$12.69 million.
APM, which operates ports and CFS stations in India, has seven CFSs in the country.
