The newly formed LLC focuses on real estate development and other permissible business activities, marking a strategic expansion for the company.
EPC firm Man Infraconstruction has informed exchanges that MICL Global has finalised an Operating Agreement and now has 25 per cent ownership stake in its subsidiary MICL TIGERTAIL LLC, with an initial capital contribution of US$1,000,000.
MICL TIGERTAIL LLC was incorporated last year as a joint venture entity in Miami, Florida. The JV entity is a collaboration between MICL Global, INC – a wholly owned subsidiary of Man Infraconstruction Ltd.
The newly formed LLC focuses on real estate development and other permissible business activities, marking a strategic expansion for the company.
Jawaharlal Nehru Port Authority on Wednesday said it has issued the Letter of Award (LoA) to Trident Agrocom Exports and Man Infraconstruction consortium for the development of a Rs 284-crore agro facility at its port.
The consortium received the LoA on December 30, JNPA said.
Once operational, the export-import-cum-domestic agricultural commodity-based processing and storage facility coming up on a 27-acre land parcel within the port complex, is expected to handle about 1.
2 million tonnes of cargo annually.
The facility will significantly contribute to the country’s agro trade by improving the processing, storage, and transportation infrastructure for agricultural commodities, the port operator said.
“This project will enhance India’s agricultural logistics capabilities and support the growth of both domestic and international agro trade.
With the new facility, JNPA is playing a critical role in strengthening India’s agricultural export infrastructure,” said Unmesh Sharad Wagh, Chairman of JNPA.
Ministry of Ports, Shipping, and Waterways gave its nod to the project in July this year.
In the New Year, the Ports’ focus will be on accelerating growth and development, ensuring fast-paced work for the timely completion of key projects, Wagh added.
The facility is designed to provide comprehensive services including processing, sorting, packing, and laboratory facilities and cater to the requirements of Maharashtra, Madhya Pradesh, Gujarat and other states, the port operator said.
The facility is primarily aimed at mitigating wastage due to multiple handling, and unhygienic storage and extend the shelf life of a variety of produce and aligns with JNPA’s aim to create a comprehensive port ecosystem, the port operator had earlier said.
The export infrastructure is strategically designed to include essential facilities such as cold storage to ensure optimal temperature management crucial for preserving product freshness and quality and pre-cooling facilities, vital for preparing perishable goods for transport, and maintaining their integrity throughout the journey, it had said.
With PTI inputs
