NewsVoir
Ahmedabad (Gujarat) [India], December 16: IEL Limited (formerly Indian Extractions Limited) (BSE: 524614, Symbol - INDXTRA), a renowned name in chemical, dye, pigment, and commodity trading, has announced its strategic diversification into the warehousing and storage sector. As a significant milestone in this journey, the company has acquired approximately 29,598.89 square meters of land in Village Neeva, Sarojini Nagar, District Lucknow, for RS. 11.80 crores.
Evolution and Diversification
Starting as a manufacturer and exporter of solvent extraction and groundnut oil, IEL Limited has evolved into a key player in export trading and chemical indenting. Catering to international markets like the U.S. and Europe, the company specializes in trading chemicals, dyes, pigments, intermediates, and commodities, while also providing marketing and support services.
Building on its established expertise, IEL is expanding into the development, operation, and management of modern storage facilities across India. This move represents a transformative step in the company's growth, positioning it as a leader in the burgeoning warehousing and logistics sector.
Ambitious Warehousing Initiatives
IEL Limited's new warehousing and storage ventures will feature state-of-the-art facilities, including:
* Warehouses
* Cold storage units
* Godowns
Equipped with advanced technology, these facilities will streamline logistics and distribution, addressing the increasing demand for reliable storage solutions across industries. By amending its Memorandum of Association, IEL has laid a foundation for its new business focus, which includes:
* Constructing and maintaining storage facilities for commodities and goods.
* Offering services such as clearing, forwarding, transportation, and distribution of stored items.
* Acting as packers, hauliers, and commission agents to support end-to-end logistics solutions.
Lucknow Land Acquisition
The recently acquired land in Lucknow will be used to establish cutting-edge storage facilities, marking the company's first project in its warehousing and logistics diversification. This initiative underscores IEL's commitment to contributing to India's infrastructure growth and addressing the evolving needs of various industries.
Market Potential
India's warehousing and logistics sector is projected to grow exponentially, reaching a market size of $215 billion by 2026. IEL Limited's entry into this space positions it to seize emerging opportunities, playing a pivotal role in enhancing India's supply chain infrastructure.
Leadership's Vision
Commenting on this strategic initiative, IEL Limited's leadership stated, "Our diversification into warehousing and storage aligns with our vision to evolve with market demands. The Lucknow project is the first of many steps we are taking to offer state-of-the-art storage solutions across India. This expansion not only strengthens our business portfolio but also reflects our commitment to contributing to the nation's economic growth and infrastructure development."
Listed on the BSE, IEL Limited has a rich legacy in manufacturing and exporting, later establishing itself as a trusted name in chemical and commodity trading. With a focus on quality and reliability, the company has expanded its presence in domestic and international markets. Now venturing into warehousing and logistics, IEL is poised to play a transformative role in India's supply chain sector.
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