| 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
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.