Highlights
| Amount invested to 30 September 2011 |
£3.7m |
| Ownership stake at 30 September 2011 |
83% |
| Sector |
Container Logistics |
| Location |
Ennore, Tamil Nadu, South East India |
| Progress to date |
Operational & revenue generating |
| Investment partner |
Sattva Business Group
www.sattva.in |
Summary
Sattva Conware CFS is Eredene’s second venture with the Sattva Business Group. The 60-acre CFS, located on a State Highway 18 kms north of Ennore, started generating revenue from a 32,000 sq ft warehouse in April 2011. Its first anchor customer is Ford Motors.
The CFS is being geared up to service the Bay of Bengal Gateway Container Terminal at Ennore Port, which is scheduled to commence operations in early 2013. Eredene is a member of the consortium, led by Spain's Grup Maritim TCB, which will construct and operate the new container terminal.
Ennore Port, 24 km north of Chennai, was built to ease congestion at Chennai Port and became operational in 2001. The region is the centre of India’s automobile industry and a major manufacturing and light industry hub. Motor manufacturers in the region include BMW, General Motors, Hyundai, Ford, Renault and Nissan.