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announcements

Joint venture for Private Freight Terminal (PFT)

 
27 March, 2011: Our Company is setting up a Private Freight Terminal (PFT) under a joint venture with Fourcee Infrastructure Equipments Pvt. Ltd. providing railway based logistic services and other facilities at Kashipur, Uttarakhand, as provided under extant guidelines of the Indian Railways. The facility would be adjacent to the existing plant of our company at Kashipur.

The parties have signed a Memorandum of Understanding (MoU) to this effect and have agreed to enter into a joint venture to co-operate and partner with each other for the purpose of setting up, operating and managing the said Private Freight Terminal in order to provide multi-modal logistic solutions to our company and external customers, and enhance its service delivery capacity.

With the commissioning of this facility, logistic movements for both inbound and outbound cargo would become more dependable, reliable, economical, and would also ensure timely delivery of goods and enable better inventory management.

The parties have entered into a MoU on 26th March, 2011 to set out the broad framework based on which the parties shall fulfill their respective obligations and jointly manage the operation and management of the PFT.