Angre Port leases part of industrial land to Arjun Refineries
May 14, 2020
Mumbai (Maharashtra) [India], May 14 : Angre Port Pvt Ltd, the most sheltered all-weather port in Konkan region, has leased five acres of its industrial backup land to Arjun Refineries for setting up an edible oil refining-cum-packaging facility.
The strategic leasing model will save the land and reduce startup costs. Having a port-based refinery will significantly cut logistics costs for Arjun Refineries, avoiding the first leg of transport from the port to a hinterland refinery completely, and also gives the company access to new markets in Maharashtra, North Karnataka, and Goa.
The lease is for a period of 30 years. Under the terms of the lease, Arjun Indo Agro Oils Ltd, the edible-oil-making subsidiary of Arjun Refineries, will use the land to establish a refinery and packaging unit.
Arjun Indo Agro Oils will start operations within the next two months with a capacity of 50,000 tonnes per year in the first phase and ramping up to one lakh tonnes in the second phase.
Angre Port will support Arjun Indo Agro Oils in the import of raw materials, and the clearance and storage of cargo through a tank terminal which will have dedicated pipelines to the refinery.
"This is a win-win model for both parties as it generates revenue and cargo for the port while providing logistics support and cost control for Arjun Refineries," said Eshaan Lazarus, Executive Director of Angre Port.
"We are currently in conversations with other industries too who are keen to leverage our infrastructure and cargo transportation capabilities and will surely see some developments on this front in the near future. This is in line with our vision to promote the economic development of the Konkan region," he said in a statement.
Angre Port in Jaigad Ratnagiri owns 300 acres of industrial land as port's private backup land. It offers this land on competitive lease models to strategic businesses such as mega warehouses, port-based industries, logistics, tank terminals and business parks.
Part of the 103-year-old Chowgule Group, Angre Port is the most sheltered all-weather port in Konkan region of Maharashtra. It is a multi-purpose port with capabilities of handling bulk, break-bulk, liquid, project and containerised cargo.
Arjun Refineries is a Kolhapur-based commodity processing company. The company operates in processing and selling edible oil made of soybean, cotton, coconut, groundnut and palm.
