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Arshiya International receives approval for Nagpur FTWZ
Arshiya International Ltd, a
global supply chain and logistics infrastructure solutions company, has received
formal approval from the Special Economic Zone’s (SEZ) Board of Approvals (BoA)
to set up its third Free Trade Warehousing Zone (FTWZ) at Nagpur.
This mega logistics park will
spread across 43.26 hectares at Bori village in Nagpur district. Arshiya’s
first FTWZ in Panvel, in Navi Mumbai, is scheduled to go live in April 2010.
Commenting Mr Ajay S. Mittal,
Founder, Chairman and Managing Director of Arshiya International, said,
"With the success of Mumbai FTWZ, we are pleased to announce the formal
approval received for our Nagpur zone. We will be looking at launching
operations there by end of calendar year 2010".
Arshiya’s FTWZ is a
state-of-the-art mega logistics park, governed by the SEZ Act and is a deemed
foreign territory. The zone will provide its users regulatory premise to
undertake ‘trading, value addition, consolidation and regional distribution
activities’.
Products stored in the FTWZ can
avail of duty deferment up to 5 years, various tax exemptions, 24x7 Customs
clearance, higher inventory visibility, hassle-free re-exports, international
standard warehousing facility equipped with temperature control, dust-free
environment, including chillers and freezers.
Arshiya International, a flagship company of the
Arshiya Group, is an India-headquartered, integrated supply chain and logistics
infrastructure solutions provider. The company has multinational operations in
the logistics and supply chain management space and is currently involved in the
phased investment of approximately $ 1.2 billion towards creating pioneering
logistics infrastructure in India.
Source : Exim News Service -
Mumbai, Feb. 22
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