Mumbai based Geekom Logistech is set to invest Rs 500 crore in order to setup a logistics park in the city of Kochi as said by the Industries Minister P Rajeeve on Tuesday. The planning of the logistics park was done with the expectation to create new job opportunities around 2000 new jobs for the existing and the upcoming generation, said the minister.
The investment made was promised by the top officials of Geekom Logistech during the meeting that took place between the industries ministers, as â€˜Meet the investorâ€™ programme that was organised. According to the industry minister, Rajeeve, Geekom, the company has already taken the possession of the land that is required for the project. Rajeeve also mentioned that all the legal assistance that is required for the project and the details, that will be provided by the Kerela government, as they have assured the minister for the matter. The minister has also said that the company will receive all the permissions, licenses and the clearances withing the period of seven days as the investment is above Rs 50 crore. The Rs 500 crore investment for the project is offered in the first phase, for the working.
Geekom Logistech was initially established as Geekom E-technologies Pvt Ltd in the year 2003. The company was renamed as Geekom Logistech in April of 2014.
According to the website of the company, Geekom Logistech was initially established as Geekom E-technologies Pvt Ltd in the year 2003. The company, when started its venture, was a product of the partnership of firms that were Associated Road lines, which deals in the business of transportation and Associated Agencies, that deals in the management of warehouses and other logistics demands. After that, the company was renamed as Geekom Logistech in April of 2014. The website of the company mentions that the company is now developing a warehouse complex with the area of 1,00,000 sq. ft. in Kochi.
The industry minister, Rajeeve has said that this project will also involve many of the big firms, that will be ready to partner with the logistics park. Such companies would be as mentioned, like Firstcry, which is Indiaâ€™s largest online store for the products that are required for new born babies, kids and toddlers as well; and Reckitt and Coleman, that is a British multinational company for consumer goods, etc. the collaboration of the park with such branded and well-known companies, will help to add the benefit of industrial as well as economic growth for the city as well as the state.Â Â
There are many reknowned and branded firms that will partner with the logistics park and develop the economy factor of the industry.Â
As the project is in the initial phase of implementation, the location of the project will be disclosed by the company later. The land of the park is expected to get extended in the second phase of the project.
After the completion of the infrastructure of the park, once it becomes operational, another investment of Rs 1,000 crore is expected and the park is also expected to provide employment to almost 2,000 people, said the industrial minister. The discussion of the project took place during the â€˜Meet the Investorâ€™ programme, and it was attended by some of the officials of some of the top companies of the sector, which also included, Chairman of Geekom Logistech Mr. Mohan Kumar and many others.