Online edition of India's National Newspaper
Saturday, Mar 31, 2007
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Online edition of India's National Newspaper Saturday, Mar 31, 2007 ePaper |
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Staff Correspondent
END-TO-END SOLUTIONS: S. Xavier Britto (left), Chairman, Indev Group, Dayanidhi Maran (centre), Union Minister of Communications and IT, and Robert Tan, Director, Kerry Logistics, Southeast Asia, at a press conference in Chennai on Friday. — PHOTO: S. S. KUMAR
CHENNAI: The Chennai-based Reliable Freight Forwarders Pvt Ltd. has entered into a joint venture agreement with the Hong Kong-based Kerry Logistics. The new company will have 51 per cent equity from Kerry Logistics and an equity base of $1 million. The new company will be known as Kerry Reliable Logistics Pvt Ltd. in India. Addressing a press conference here on Friday, Robert K. W. Tan, Director, Kerry Logistics (South East Asia) Pte Ltd., said the joint venture would identify areas and locations to set up a `distribution centre warehouse'. These hi-tech warehouses with over one-lakh sq ft floor space would provide end-to-end solutions to customers. The company hoped to construct nearly five to six such warehouses in the next five to six years, he said. Reliable Freight was well supported by the integrated logistics facilities operated by Indev Group of companies, Mr. Tan said.
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