Temasek arm buys 10% in logistics firm

Aranda Investments, a Mauritius-based company and a wholly owned subsidiary of the Singapore-based Temasek Holdings, has picked up a 10 per cent equity stake in freight company Gateway Distriparks.

Temasek has significant holdings in companies such as Singapore Airlines, SingTel, DBS Bank and Neptune Orient Lines among others.

Captain Kapil Anand, chief executive officer of Gateway Distriparks said in a release, "We look forward to leverage Aranda's expertise and knowledge to further strengthen our business."

With a new strategic investor, the share of the promoters of Gateway Distripark is now 68 per cent. Gateway has set up a greenfield CFS at Vishakhapatnam which would be operational by the end of this fiscal year.

This would enable the company to handle more than 2000 TEUS annually making it one of the largest private sector port related logistics company catering to the southern and western coastline of India and hinterlands of northern India. The company already owns an inland container depot at Garhi, Gurgaon near Delhi.