COLOMBO (EconomyNext) – APL Logistics, a global transportation firm providing supply chain services for clients, is to make Sri Lanka its regional consolidation hub for South Asia by the second half of 2015.
The firm, a unit of Singapore-based Neptune Orient Lines (NOL), announced it has signed an agreement with the Board of Investment of Sri Lanka (BOI) on APL Logistics’ investment within the Katunayake Export Processing Zone (EPZ).
"APL Logistics’ wholly-owned subsidiary, APL Logistics Lanka (Private) Limited, has been granted a lease on the land and premises located in the EPZ where it will operate its container freight stations, warehouses and other logistics-related businesses."
APL Logistics said it aims to upgrade the existing facility on the site and offer 100,000 square feet of bonded warehousing space, compliant with international standards for security and safety and with built-in environmentally-friendly features.
“Sri Lanka has been rapidly growing in importance as a regional sourcing base for global retail customers," said Beat Simon, APL Logistics President.
"The country’s infrastructure development to improve the capacity and efficiency of its existing ports has been progressing at a tremendous pace.
"With the set-up of APL Logistics’ regional consolidation hub here, we are well-positioned to scale up our operations and meet growing customer demand for reliable regional supply chain solutions in South Asia,” the statement quoted Simon as saying.
APL Logistics said it has an "extensive" distribution and transportation network in the country, supported by alliances with local market leaders.
The new facility in the Katunayake EPZ will complement APL Logistics’ existing cargo hubs in North and Southeast Asia.
It will connect with as many as 18 container freight stations located within APL Logistics’ South Asia network, providing services like Multi-Country Consolidation and other value-added and pre-retail services.