Nagpur, February 24, 2008:Sical Logistics Ltd, India's leading provider of integrated multi-modal logistics solutions for bulk and containerized cargo and offshore logistics, initiated work on the Nagpur Sical Gupta Road Terminal with the ground-breaking ceremony at the road terminal site at the Multimodal International Hub Airport at Nagpur (MIHAN) today. The foundation stone was laid by Hon'ble Shri. Villas Muttemwar, Minister of New & Renewable Energy, Government of India in the presence of guest of honor Shri. Nitin Gadkari, President, BJP Maharashtra, Mr RC Sinha, Vice Chairman and MD Maharashtra Airport Development Company (MADC), Mr Ashwin C Muthiah, Chairman Sical Logistics and Mr Padmesh Gupta, Chairman Gupta Group of companies. .

A special purpose vehicle, Nagpur Sical Gupta Road Terminal Ltd (NSGRTL), comprising of Sical with 51% stake, MADC with 26% stake and Gupta Coal with 23% stake, will build, operate and manage the road terminal. The total project cost is estimated to be Rs.119.3 crore, with a debt equity ratio of about 1:1. The road terminal will stretch across a 60 hectare plot and have parking facilities for 1,150 vehicles including multi-axle vehicles, warehousing space of 0.5 million sq. ft, 15 hectares of open plots and 45000 sqft of cold storage area.

Speaking on the occasion Mr. R C Sinha, Vice Chairman and MD MADC said, We are pleased at the initiation of work on the Nagpur Sical Gupta road terminal project. With Sical as our partner in growth, we believe that the upcoming terminal will be of international standards and built within the specified timelines. We expect the Road Terminal to bring in good investments for MIHAN in the future".

Mr. Ashwin Muthiah, Chairman Sical Logistics said, Nagpur is the next big international hub and the nucleus for Indias logistic's industry. With the development of the country's largest logistics hubs at MIHAN, the country will witness a new era of world-class infrastructure and state-of-the-art facilities. We begin work on the Sical Road Terminal with much enthusiasm and expect to complete it by January 2009. I am confident that the upcoming Road terminal will set new benchmark's in efficiency of logistics operations across the country".

Mr Padmesh Gupta, Chairman Gupta Group of companie's said, We are delighted to be associated with a player of Sical's expertise and experience. Being Nagpur based we are very proud to be building the country's largest road terminal and we look forward to working closely with both Sical and MADC on this project".

NSGRTL was formed in April 2007 and the shareholder's agreement for the project was signed with MADC and Gupta Coal on August 22, 2007.

About Sical
Sical Logistics Ltd is India's leading integrated multi-modal bulk and containerized logistics solutions provider handling around 22mn tonnes of bulk cargo as well as over 5,00,000 TEUs of containerized cargo. Headquartered in Chennai, Sical formerly South India Corporation Agencies Limited is listed on the Mumbai Stock Exchange and the National Stock Exchange.

The services of the company are segmented as:

• Bulk logistics- Stevedoring/ Port terminals/ Customs and agency services/Trucking/ Rail Road and Warehousing

• Container logistics- Box terminals/ ICDs and CFS

• Offshore logistics- O&M of offshore supply vessels/ Owning PSV / Dredging

Sical's delivery network includes an exclusive walk-in berth at Chennai for ships carrying bulk cargo; a container terminal at Tuticorin, 4.5 lakh square feet of storage across over 100 warehouses; owned and regularly contracted fleet of over 2500 transport vehicles, and container freight stations at 3 locations across India. Sical's FY2006-07 revenue was Rs 8.92 billion on Rs 301.9 million equity capital.

Media Contacts:

Richa Tilokani
Sical Logistics Ltd
Voice: +91. 44. 22340724
Fax : +91 .44 . 22353655
Email : richa@sical.com