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MOL signs JV MoU with Sical Logistics for car exports

MOL signs JV MoU with Sical Logistics for car exports

Chennai: Mitsui O.S.K. Lines recently signed a memorandum of understanding with Sical Logistics in preparation for the launch of a joint venture to operate a completed car yard at Ennore Port near Chennai, India. The companies plan to establish the JV within 2009.

In a statement to the press, the Japanese shipping powerhouse said, "MOL and Sical each brings unique strengths to the partnership. MOL has accumulated decades of know-how in Asia's automobile logistics market, while Sical has a proven track record in port and harbor operations in southeast India."

The joint venture will be engaged in yard operations such as storage and preparation for loading of vehicles at the export port, of all operations for exports of Nissan vehicles, for which MOL has already secured a contract.  [04/08/09]