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The Semantic Grid is a recent initiative to expose se- mantically rich information associated with Grid resources to build more intelligent Grid services. Recently, several projects have embraced this vision and there are several successful applications that combine the strengths of the Grid and of semantic technologies. However, Semantic Grid still lacks a technology, which would provide the needed scalability and integration with existing infrastructure. In this paper we present our on-going work on a semantic grid repository, which is capable of addressing complex schemas and answer queries over ontologies with large number of instances. We present the details of our approach and describe the underlying architecture of the system. We conclude with a performance evaluation, which compares the current state-of-the-art reasoners with our system.