Mercantile Ports & Logistics expects first revenues 'in a few weeks' following delay
Source - SMW
Mercantile Ports & Logistics said it expected to start receiving first revenues in 'a few weeks' after a customer at its new logistics facility in Mumbai needed longer than expected to arrange docking.
A series of of berthing and unberthing tests have been carried out successfully, the company said.
'The first customer has required longer than it originally envisaged to arrange the end-to-end logistics to be ready to dock and final customs approvals for the handling of international cargo will be received shortly,' the company said.
'In the meantime, the company is pleased with the level of enquiries and traction that it has received from potential customers and this has further increased the board's confidence in the prospects for the company.'
Mercantile Ports & Logistics said it had also been working to create an additional 200 meters of quay length on the east flank of the facility.
The additional berthing capacity was expected to be operational in two phases, with the first 100 meters expected to be able to take cargo in March 2018. The full 200 meters was expected to be operational in April 2018, taking the total quay length of the completed facility to 1,000 meters, with room for further expansion.