Gateway Distriparks commences construction of ICD in Dhanakya, Jaipur; stock soars ~4%

21 Sep 2022 , 02:38 PM

Gateway Distriparks Limited (GDL) has finalised the acquisition of property in Dhanakya, near Jaipur, and will immediately begin the development of a new rail-linked Inland Container Depot (ICD).

This will be the company’s fifth ICD, in addition to five Container Freight Stations, bringing the total number of container terminals in India to ten. GDL has already invested Rs27 crore in land acquisition and will spend another Rs50 crore on the initial phase of ICD development.

The ICD will be situated across 30 acres, with two rail sidings and an annual capacity of over 125,000 TEUs, and will be located near Dhanakya railway station. This portion is already a double stack route that is being electrified, said GDL in media reports.

“With the PM’s announcement of the National Logistics Policy, all permissions will be under one roof, allowing the company to develop this property as a multimodal logistics park and make it operational within the next 12 months. GDL will continue to build multimodal logistics parks in India’s key industrial and commercial centres,” commented Prem Kishan Gupta, CMD of GDL.

The company will also build an integrated warehouse facility and provide first and last-mile road transportation to the industrial districts of the Jaipur market, including Jaipur, Bindayaka, Dausa, Kolana, Sitapura, and Hirawala.

At around 2.42 PM, Gateway Distriparks was trading 4.01% higher at Rs73.90, against previous close of Rs71.05 on NSE. It touched intraday high and low of Rs76.75 and Rs71.50 respectively.

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