Jindal Stainless Ltd ties up with Maersk for logistics upgrade

India's largest stainless steel producing company, Jindal Stainless Ltd (JSL), and the integrated container logistics company, Maersk, have joined hands to ease and optimise the flow of containerized exports and imports between JSL, Jajpur and Vizag Container Terminal (VCTPL). As per the terms of the contract, Maersk shall facilitate to and fro rail movement of containers between Vizag and Jindal Stainless Logistics Park (JSLP), a newly commissioned Inland Container Depot (ICD) located at Jajpur, Odisha. The first rake was flagged off on July 24.

Commenting on this association, MD, Jindal Stainless Ltd, Mr Abhyuday Jindal said, "Jindal Stainless Ltd is India's largest importer of containerised stainless steel scrap. Our collaboration with Maersk is a mutual win-win solution as it harnesses volumes on our side and expertise on theirs. This arrangement shall help us strengthen our supply chain and expedite container movement, besides saving costs for us." Managing Director, Maersk South Asia, Mr Steve Felder added, "At Maersk, we are ensuring that our customers have access to products and solutions that meet their end-to-end supply chain needs. With a solution designed and curated especially with and for Jindal Stainless Ltd, we are going all the way in delivering our promise of being enablers of trade."

Spread over 12 acres and operational since November 2019, Jindal Stainless Logistics Park is a rail-linked ICD at Jajpur, fully equipped with custom-bonded facility, covered warehouse, and adequate container handling/storage/repair facilities to cater to the requirements of various importers and shippers located in Kalinganagar and nearby industrial areas of Odisha. It is now possible to directly move container trains from Vishakhapatnam Container Terminal Private Ltd (VCTPL) to Jindal Stainless Private Freight Terminal (PFT), thereby saving time as well as costs.

Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.36.95 as compared to the previous close of Rs. 36.65. The total number of shares traded during the day was 13836 in over 134 trades.

The stock hit an intraday high of Rs. 37.4 and intraday low of 36.5. The net turnover during the day was Rs. 511952.

Source : Equity Bulls

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