Gateway Distriparks sells second Chennai CFS to Team Global for Rs48.41 crore

December 23, 2019: Gateway Distriparks Ltd (GDL) has completed the divestment of its second Container Freight Station (CFS) in Chennai, held in its subsidiary, Chandra CFS & Terminal Operators Private Limited, to Team Global Logistics Private Limited, for Rs48.41 crore.

GDL will continue to operate its first CFS in Chennai where it handled over 87,000 TEUs last year.

Prem Kishan Gupta, chairman and managing director, Gateway, said “This sale is in line with the strategy of the company of debt reduction, and will help the company to consolidate its operations in Chennai at a single container freight station, with an aim to improve cost efficiencies."

GDL Group is an integrated inter-modal logistics service provider having three verticals.
It operates seven CFSs in Nhava Sheva, Chennai, Vizag, Kochi and Krishnapatnam.