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Mercantile Ports & Logistics signs two new contract for facility in India
StockMarketWire.com
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Mercantile Ports & Logistics said it had signed two new contracts for the use of its its port and logistics facility in Navi Mumbai, Maharashtra, India.
Company subsidiary Karanja Terminal & Logistics Private had entered into a contract with trading and stevedoring company Rudra Marine Services, which handles coal and other bulk cargoes for various end customers.
The contract was for an initial period of five years and Mercantile Ports & Logistic was expected to handle about 2-3 million tonnes over the next 36 months
The company also said it had signed a contract with a major cement manufacturer, which would start using the facilities by the end of this month.
The contract, implemented over two phases, was envisaged to be in place for 20 years and was with a customer that supplies products to some of the largest companies in the building and infrastructure sector in India.
At 9:44am: (LON:MPL) Mercantile Ports Logistics Limited Ord Npv share price was 0p at 0.23p
Story provided by StockMarketWire.com
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