Gateway Distriparks to acquire Kashipur Infrastructure and Freight Terminal
Gateway Distriparks (GDL), an Indian logistics company, has agreed to acquire 99.92% shareholding of Kashipur Infrastructure and Freight Terminal Private Limited (KIFTPL) from its majority shareholders for INR 156 crores.
The majority shareholders include Apollo LogiSolutions, Kashipur Holdings, and India Glycols.
The outstanding 0.08% shareholding in Kashipur Infrastructure and Freight Terminal will be purchased by Gateway Distriparks from Fourcee Infrastructure Equipments in due course following process initiation.
Kashipur Infrastructure and Freight Terminal owns and runs a rail connected inland container depot (ICD) at Kashipur, Uttarakhand.
Spread across 41 acres, the inland container depot in Kashipur has three rail sidings, and warehousing space spanning over 17,000 square feet.
Kashipur Infrastructure and Freight Terminal caters to a range of industries located in the region, namely automotive parts, polyfilms, wastepaper, chemicals, soda ash, paper products, home furnishings, handicrafts, and other industrial goods.
Gateway Distriparks to acquire Kashipur Infrastructure and Freight Terminal, the owner of an inland container depot in Kashipur. Photo courtesy of Marcin from Pixabay.
Under the proposed acquisition, Gateway Distriparks will convert the Kashipur inland container depot into a complete multimodal logistics park by providing rail services to the depot leveraging its current fleet of 31 trains, apart from all terminal services and road transportation.
Kashipur Infrastructure and Freight Terminal currently offers terminal services while rail services are rendered by other container train operators.
Gateway Distriparks is also planning to scale the Kashipur inland container depot current volumes of 3,000 TEUs per month on average through current network of depot and cost-effective rail services.
Prem Kishan Dass Gupta — Gateway Distriparks Chairman and Managing Director said: “We are in a phase of high growth, and we see a lot of potential in the rail vertical of our business.
“We had already announced the commencement of construction of our new ICD in Jaipur last month.
“With this new acquisition that is planned, we will be owning 11 container terminals across India.
“We will continue to explore opportunities for expanding our presence through both greenfield and brownfield projects.”
Anticipated to close at the end of Q3 of FY 2022-23, the transaction is subject to some customary approvals and pre-closing and post-closing adjustments.