Ceylon Tea Brokers PLC expects to have its first state-of-the-art warehousing complex in Muthurajawela with the acquisition of Logicare (Pvt) Ltd.
The acquisition of Logicare reinforced Ceylon Tea Brokers’ foray into logistics.
Logicare (Pvt) Ltd has the leasehold rights for a 4.5 acre plot of land in the Muthurajawela zone.
The complex would initially have a storage capacity of 60,000 sq.ft. and the total project cost including the acquisition cost of Logicare (Pvt) Ltd., would be approximately Rs. 600 million.
The company expects the demand for logistics will continue to rise and wishes to protect its growth prospects in that area.
With the demand for state-of-the-art warehousing on the increase from the tea sector as well as the non-tea sector, the company believes that it is prudent to capture the market opportunity in order to enhance its profitability as well as its portfolio. (IH)
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