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GKE enters into JV for hazardous chemicals warehousing and logistics

WAREHOUSING and storage company GKE Corporation (GKE) has invested in a joint venture (JV) that will carry out hazardous chemicals warehousing and logistics services for packed products, laden ISO Tanks and chemical drumming, the company said on Thursday.

GKE will invest S$0.3 million in cash for a 65 per cent stake in the JV company, G-Chem Logistics Pte Ltd (G-Chem), while Kleio One-Solution Pte Ltd will take up the remaining 35 per cent for approximately S$0.16 million in cash.

G-Chem will operate out of one of GKE's warehouse premises at 6 Pioneer Walk and pay a monthly management fee to GKE.

The move is expected to help GKE expand its range of services, while developing as a one-stop integrated chemical logistics provider serving both the chemical and pharmaceutical sectors in Singapore.

sentifi.com

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