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)