UK-based real estate major Eredene Capital has announced that it planned to pump around Rs 40 crore for building a Container Freight Station (CFS) near the Ennore port, partnering with Chennai-based Sattva Business Group.

While commenting on the plans, Mr. Nikhil Naik, Chairman, Eredene Infrastructure Pvt Ltd remarked, “We would be investing around 85 per cent of the stake through (FDI) and the remaining 15 per cent would be shared by Sattva Business Group for setting up the CFS at Ennore port.”

According to the company officials, the proposed CFS would be situated on the State Highway near Ponneri, North of Ennore.

The source close to the company said that the site would be developed initially as a large scale warehousing corporation to meet the demand for warehousing services.

In fiscal 2007, the conglomerate (Eredene Capital) had acquired 49% interest in Sattva Business Group for pumping in a CFS.

The company officials revealed that the earlier one (CFS) is at Vichoor near Chennai port, which has been functional since October 2007 and the proposed investment is our second investment in Tamil Nadu.