Letter of Approval granted to Siddhartha Logistics FTWZ for a unit in the company's FTWZ

Visakhapatnam SEZ Development Commissioner has issued a Letter of Approval (Form-G) dated 23rd September 2026 to Siddhartha Logistics FTWZ Pvt Ltd to set up a unit in VSF's FTWZ.

Thu 24 Sep 2026

Letter of Approval (Form-G) Date

23rd September 2026

Tenant Unit

Siddhartha Logistics FTWZ Pvt Ltd

Location

VSF's Free Trade and Warehousing Zone (FTWZ)

Approval Validity Period

23rd September 2026 to 22nd September 2027, extendable, with 5 years validity from commencement

Revenue Streams

Space leasing and ICD container usage-based revenue

What was shared

VSF Projects informed BSE under Regulation 30 that the Office of the Development Commissioner, Visakhapatnam Special Economic Zone, Department of Commerce, Government of India, has issued a Letter of Approval (Form-G) dated 23rd September 2026 to Siddhartha Logistics FTWZ Private Limited for setting up a unit in the Free Trade and Warehousing Zone (FTWZ) of the company.

The approval was issued under Rule 19 of the SEZ Rules, 2006, following a Unit Approval Committee meeting held on 9th September 2026.

Activities permitted to the unit

• Bonded warehouse activity for specified goods
• Sea freight
• Custom house agent services
• Warehousing and logistics services
• Transportation
• Business support services

How it relates to the company

• The company will lease its space in the FTWZ to Siddhartha Logistics FTWZ Private Limited.
• The company states it shall also get revenues based on the ICD containers used by Siddhartha Logistics, depending on usage.
• The company states this allows storage of aerospace and defence related products in its FTWZ, which it describes as the only FTWZ as of now allowed to handle such cargo, giving it a first mover advantage.

Validity

The Letter of Approval is valid from 23rd September 2026 to 22nd September 2027, within which the unit must implement the project and commence operations. This period is extendable by the Development Commissioner. Once operations commence, the approval remains valid for five years from the date of commencement.

How to read it

This is an approval for a customer unit inside the company's zone rather than a signed contract with stated values. The lease and container-usage revenues would depend on the unit actually setting up and on usage levels. Investors may watch for confirmation of commencement of operations within the validity window.

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