October 16, 2009: Japan’s Mitsui O.S.K. Lines Limited (MOL) has signed an agreement with Sical Logistics Limited to form a joint venture (JV) company. The JV, in which MOL will own 55% equity and Sical 45% equity, will operate the automotives management yard at Ennore Port, near Chennai. Operations are scheduled to commence in 2010-11.

MOL is among the world’s largest shipping and logistics companies and is considered among the leaders in global automotive transportation. The joint venture agreement was signed by Ashwin C Muthiah, chairman of Sical Logistics and Takashi Kurauchi, managing executive officer of Mitsui O.S.K lines, on October 14, 2009 in Chennai. The yard will manage automotives in complete built-up unit (CBU) form and will cater to automotive exporters/impoters based in India.

The proposed JV will combine the expertise of MOL in global automotives transportation and yard management, with Sical’s competencies in multimodal integrated logistics and terminal operations.

About Sical Logistics

Handler of more than 26 million tonnes of bulk cargo and 500,000 twenty-foot equivalent units (TEUs) of containerised cargo annually, Sical Logistics Ltd is India’s leading provider of integrated solutions for multi-modal logistics of bulk and container cargo.

Sical’s end-to-end logistics proposition includes port operations (stevedoring, ship agency and customs services), freight forwarding, container freight stations (CFS), trains, trucks, warehouses and terminal operations.

Sical’s delivery network includes an exclusive walk-in berth in Chennai for ships carrying bulk cargo, container terminals in Tuticorin and Chennai, one million square feet of warehouse, pan-India fleet of more than 3,000 trucks, container freight stations at three locations and pan-India container trains.

For further information, contact

Dev Chandrasekhar, Ubiquus,
+91 9821070043,
d.chandrasekhar@ubiquus.com

Richa Tilokani, Sical Logistics,
+91 9940164870,
richa@sical.com