L&T to build Arshiya's free trade warehousing zone near Mumbai
22 Sep 2009
Arshiya International Ltd has awarded the contract for building the first phase of its upcoming free trade warehousing zone (FTWZ) at Sai village in Panvel, near Mumbai, the company informed the Bombay Stock Exchange (BSE) in a filing.
"Arshiya International Ltd awards L&T the contact for Building India First Free Trade Warehousing Zone (FFWZ) at Sal Village - Panvel near Mumbai", the company said in a press release.
Arshiya International said the FFWZ would allow export, import, and re-export products without the burden of taxes, duties and levies that would otherwise have been bound by.
The special zones offer customised warehousing facilities to help add value or store, before organised shipment. These zones have been strategically located, networked and offer a time-and-cost advantage.
The benefits include: duty and tax incentives, faster regulatory clearances, significantly reduced capital expenses, visibility, flexibility and most importantly, decrease in working capital cost, the company said in a website release.
Conveniently located for port or multi-modal hinterland connectivity, the FTWZ facilitates the movement of products in and out of the country, it said.