Arshiya International Limited, an India headquartered global Logistics and Supply Chain Services Company, has signed a purchase deal worth Rs 71 crore with Finnish equipment manufacturer, Kalmar Industries (part of Cargotec Corporation) to supply seven (7) E-One+ rubber-tyred gantry (RTG) cranes and ten (10) DRF450 reach stackers.

This initial deal is part of the first wave of purchase orders made against the company's announcement to invest approx. Rs 2800 crore into its logistics infrastructure(FTWZ) & Rail business. The equipment is proposed to be deployed for cargo/container handling for Arshiya's Free Trade Warehousing Zones (FTWZ) & Rail sidings.

According to the market analysts, the latest equipment will help Arshiya in achieving maximum productivity, reliability and cost efficiency while also meeting the toughest environmental standards on pollution, discharges, noise, safety and working environment.

The company plans to create 5 FTWZ's in India (Mumbai, Delhi, Nagpur and undisclosed location in the South) integrated with CFS (Container Freight Stations) and 1 in the Middle East.

The first of the FTWZ's, which is spread over 180 acre zone in Panvel, Mumbai will be build with an investment cost of approx Rs 1,200 crore. The project is scheduled to be completed by March 2011.

Recently, Arshiya has announced that company's board of directors at its meeting held on July 30, 2008, inter alia, has considered and recommended a Dividend on equity shares @ 40% (80 paise per equity share of Rs 2/- each).

In the latest research report, Stock analysts of India Capital Markets have recommended a hold rating on Arshiya International with a target price of Rs 342 over long term. The stock closed today at Rs 162 on BSE.