Modern India to come up with warehousing zone near Mumbai

New Delhi, Jul 4 (UNI) Modern India Ltd, textile and real-estate firm, today said it plans to set up a free trade warehousing zone at Panvel near Mumbai.

''The company will undertake the activity through a special purpose vehicle (SPV)-- Modern India Free Trade Warehousing Pvt Ltd,'' it said in a statement.

The company has already subscribed to 51 per cent of equity share capital of the SPV, making it is its subsidiary, the statement added.

UNI AK SG AS1554