The Company has entered into a Joint Venture with Apollo Logisolutions Limited (“ALS”) for setting up a Private Freight Terminal (PFT) and Inland Container Depot (ICD) providing railway based logistic services and other facilities at Bazpur Road, Kashipur, and Uttarakhand, as provided under extant guidelines of the Indian Railways. The facility is coming up at the area adjacent to the existing plant of Company at Kashipur.
The Joint venture Company will develop, manage and operate Private Freight Terminal (PFT) and Inland Container Depot (ICD) at Kashipur, Uttarakhand.The facility is expected to be operational by April, 2015.The facility shall provide multi-modal logistics solutions to our Company and external customers and enhance its service delivery capacity. With the commissioning of this facility, logistics movement for both inbound and outbound cargo would become more dependable, reliable, and economical, would also ensure on-time delivery of goods and enable better inventory management.
In the Joint Venture M/s. Apollo Logisolutions Ltd. shall invest in fresh equity and will hold 51% of the extended capital base of the JV Company.