facebook google-plus instagram linkedin twitter youtube arrow arrow-up calendar Capital chart download hub kfh-shape live-stream map menu Office print Search Servers share Trucks
Array ( ) AR
February 2012

GWC to launch 2nd phase of Logistics Village in March

The second phase of Logistics Village, which will bring in additional 60,650sq m of warehouse and 50,00sq m of container yard, is expected to be commissioned next month, according to its developer Gulf Warehousing Company. Indications are that the total cost of the project is estimated to be around QR200mn for which the financial closure has already been completed.

The company, which is aiming to double its seas and airfreight businesses by 2013, has also embarked on the expansion of its open yard in Ras Laffan for storing hazardous materials to be completed by the end of this year. The company had last year acquired 10,300sq m of open yard for the future storage of hazardous materials. From the very instance of breaking the ground for Phase II, the company started to receive several confirmed reservations and it expects the occupancy level to surpass 70% on its completion in Q1, 2012, GWC said in its annual report. “We look towards the added capacity and competitive edge that the Phase II of the logistics village will bring to the table,” GWC chairman Mohamad Ismail al-Emadi told shareholders yesterday at the annual general assembly. The meeting approved the net profit of QRR61.73mn and 15% cash dividend. It also retained the same board members for 2012. The first phase of Logistics Village, built at a cost of QR500mn, was launched in the second quarter of 2011; bringing in 82,200sq m of warehouse; 100,00sq m of container yard; 100,000sq m of truck maintenance and 23,000sq m of accommodation. “With the first phase of logistics village fully operational and with our GCC (Gulf Cooperation Council) presence expanding, the future looks bright,” he said.

The third phase of logistics village is expected to add 105,000sq m of warehouse; 100,000sq m of container yard; 4,600sq m ofadministrative block and 16,400sq m of accommodation. Going forward, GWC expects growth momentum in the freight forwarding segment as several planned infrastructure projects will take off over the next decade. At present, it operates a global network of freight forwarding in a total of 125 countries. “As we get closer to the build up of the FIFA World Cup, we expect to play a big part in serving the logistical needs of this milestone event. In the freight forwarding and logistics segment, we expect to see strong rates of growth in the ocean, air and road freight areas, especially for our business activities in the GCC region,” the company spokesman said. Asserting that future looks bright, GWC said the logistics sector would get a booster dose due to the mammoth infrastructure spending outlined by the government. He expected about 5% of the total spending to be channelised into the logistics and warehousing sector.

On international moving and relocation of households, the company said it aimed at growing this business segment further through reciprocal strategic global alliances with large network of agents.

Filter by year
Latest
July 23, 2017
GWC Records QAR 105.3 million in Net Profits for H1 2017
3 months
GWC Earns QAR 50.5 million in Net Profits for Q1 2017
4 months
GWC receives Qatar Success Award from Forbes Middle East
4 months
GWC receives CSR Leadership award during National CSR Report Launch
5 months
GWC honored for its efforts in making international cycling Championship a success
6 months
GWC to distribute 16% dividend after 11% growth in net profits in 2016
Blog
8 months
GWC to Develop Bu Sulba Logistics Hub for QAR 685 Million
August 8, 2015
A Moment of Introspection
7 months
Prime Minister opens Banana Island Resort Doha
7 months
Qatar Generates 193 Billion QAR in GDP by Third Quarter of 2014
7 months
F-Ring Road Opens to Traffic
4 months
Small and Medium Enterprises take center stage in Qatar