ALLcargo Global Logistics and ECU Line have signed a memorandum of understanding on the sidelines of a government road show in the Indian state of Madhya Pradesh to set up two inland container depots at both Pithampur in Indore and at Mandideep near Bhopal.
The memorandum was signed in the presence of Chief Minister Shivraj Singh Chauhan. ECU Line chairman and managing director Shashi Kiran Shetty said India's second largest state was chosen as the location for the box depot as it is rich with natural resources and centrally located with access to the rest of the country. This development comes as the government of Madhya Pradesh has been trying to attract private investment to promote the economic growth of the state. It is expected that the state of the art inland container depot will help local industries boost their export-import trade. Belgium's ECU-Hold NV, the parent company of ECU Line, has 120 offices in 56 countries worldwide, and has an annual turnover of EUR220 million (US$290.92 million).