Sunday, June, 23, 2024 02:57:16

APM Terminals Inland Services, a unit of Maersk Group, has reportedly made plans to build India’s first eco-friendly ICD or inland container depot for managing chemicals in Pune.

The Ministry of Environment, Forest, and Climate Change has provided the Maersk Group company a comprehensive sanction to stock 35,000 tonnes of chemicals of all types, excluding radioactive chemicals and explosives, at its unit located in Pune about 150 km from Mumbai.

The ICD can reportedly handle 60,000 containers on an annual basis. Sources claim that it has 100,000 square feet of warehouse area, half of which is bonded and the other half is non-bonded, in addition to 50,000 square feet of yard area for stocking containers.

Ajit Venkataraman, Managing Director, South Asia, APM Terminals Inland Services, was quoted stating that there is immense import-export happening in the chemical sector, one among the biggest challenges faced by chemical firms is that of infrastructure to aid compliance as well as regulatory outlook, as there are not many facilities across India that match compliance standards, and this has been hampering industry progression.

The company deems this as an opportunity not only for itself, but also for other businesses operating in the chemical market to move to the next level, Venkataraman added.

APM Terminals Inland Services currently operates two inland container depots located in Dadri and Pune, as well as five CFSs, two of which are located in Mumbai while other three in Tuticorin, Chennai, and Mundra, cite trusted sources.

According to market analysts, this move is anticipated to support the Indian chemical industry, which is currently valued at $200 Bn, and makes up about 3% of the global chemical market. By the year 2025, it is expected that the local chemical industry would double its valuation and reach $400 Bn, pushing multinational chemical concerns to develop a base in India, claim analysts.