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Gateway signs pact with Punjab Conware for freight station

Saturday, 13 Jan 2007
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On 12 January 2007, Gateway Distriparks has signed an agreement with Punjab Conware to operate and manage their container freight station at JN Port in Navi Mumbai.

Gateway Distriparks has paid one-time upfront fee of Rs.35 crore to Punjab Conware on signing the agreement and a quarterly fees of Rs.2.5 crore will also be paid on the commencement of the said agreement. The operate and manage agreement will take effect by 1 February 2007 and will be valid for a period of 15 years

In December 2006, Gateway Distriparks had announced that Punjab State Container & Warehousing Corporation (CONWARE) had accepted its proposal for engaging an operations and management (O&M) contractor for the CFS at Navi Mumbai. Ernst & Young were the Financial Advisors to Conware to advise and manage the selection process.

Also See:

Gateway Distriparks to invest in container rail logistics (14-Apr-06)

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