Logistics - Growth enclave.Byline: Infrastructure Today
The logistics sector will get a massive boost with the setting up a new multi product special economic zone in the south of the country.
Sri City Pvt Ltd is developing South India's largest private sector multi-product SEZ and Domestic Industrial Zone Spread on over 5000 plus acre about 55 km from Chennai, the special enclave has the dual advantage of a multi-product Special Economic Zone with an adjacent Domestic Industrial Zone built in partnership with the government of Andhra Pradesh.
Sri City offers the distinct advantage of well-established connectivity by rail, and road with proximity to three seaports and two airports.
The company recently announced the launch of its exclusive 500 acre Logistics and Warehousing Park at the CII seminar on logistics and warehousing competitiveness, in New Delhi. The park was inaugurated by Ajay Shankar, Secretary, Department of Industrial Policy & Promotion, Ministry of Commerce & Industry, Government of India.
A S Cargo Ltd has entered into an agreement with Sri City as a co-developer to build the warehousing facilities in over 50 acre of land with an investment of Rs 100 crore.
The Sri City Logistics & Warehousing Park will be equipped with the state-of-the-art trans shipment facility and 3PL services, which would fulfill the industry's long awaited need for a park with a large area of land and the right infrastructure that would offer reliability and scalability.
Built on the concept of 'park-within park' concept and master-planned by Jurong Consultants, Singapore, Sri City is an integrated development of a world-class business township. The various parks within the city will include separate zones for logistics and warehousing, aerospace, engineering, electronics, biotech/pharma and IT/BPO.
These parks will offer complete business solutions to the industries located here that includes robust industrial infrastructure such as road, water, power, telecom and sewer networks complemented by lifestyle features like residential areas, commercial hubs, healthcare, educational institutions, recreation centers and all support amenities.
250-acre have been allocated in the SEZ for the development of a Free Trade Warehousing Zone (FTWZ) and another 250 acre in the domestic industrial zone to meet the requirements of the growing Indian market. Proximity to three ports - Chennai, Ennore and Krishnapatnam and two international airports, Chennai and Tirupathi and access on NH - 5, sets the right platform for the development of this park.
The Sri City Logistics and Warehousing Park will attract investors from across the world for developing a world-class logistics hub to cater to the export and domestic markets across all sectors - engineering, auto/auto compon-ents, renewable energy, textile and agriculture, electronics, IT/BPO and others. The park is expected to accommodate about 20 large logistics companies and generate employment for more than 3000 people in the industry. This development within the larger development of Sri City SEZ and domestic industrial zone provides an added advantage of a captive client base within Sri City where eventually 300 MNC's and domestic companies are estimated to set up their facilities, according to the demand assessment study by Jones Lang LaSalle-Meghraj.
Ramesh Subramaniam, President, Sri City, said, "The Sri City Logistics and Warehousing Park comes at the right time when the $ 100-billion or Rs 4,70,000-crore logistics business in India is set to boom. The warehousing segment is estimated to be $ 20 billion Rs 94,000 crore in size, which is growing at a rate of about 14 per cent per annum driven by the outsourcing trend to India and the burgeoning retail market in the country. " He also added, "the park will meet the infrastructure facilities required for streamlined operations".
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