ALS for­ays into the ICD seg­ment via joint ven­ture

Un­der a joint ven­ture with In­dia Gly­cols Limited, ICD will be set up at an es­ti­mated project cost of 90 crore.

Cargo Talk - - Shipping News -

Apollo LogiSo­lu­tions Ltd (ALS) has an­nounced its foray in the In­land Con­tainer De­pot (ICD) seg­ment by en­ter­ing into joint ven­ture (JV) named Ka­shipur In­fra­struc­ture Freight Ter­mi­nal Pri­vate Limited with In­dia Gly­cols Limited (IGL).

ALS, a lo­gis­tics arm of Apollo In­ter­na­tional Limited, will hold 51 per cent in the joint ven­ture. The JV will de­velop, man­age and op­er­ate freight ter­mi­nal at Ka­shipur, Ut­tarak­hand at an es­ti­mated project cost of 90 crore. The JV will be funded through a com­bi­na­tion of debt and eq­uity. The fa­cil­ity is ex­pected to be op­er­a­tional by April 2015. Com­ment­ing on the de­vel­op­ment, Raaja Kan­war, Vice Chair­man and Man­ag­ing Di­rec­tor, Apollo LogiSo­lu­tions said, “Our en­try in the ICD seg­ment is another sig­nif­i­cant step to­wards build­ing in­te­grated lo­gis­tics ca­pa­bil­i­ties. With this op­por­tu­nity, we will not only be bet­ter equipped to han­dle and store con­tainer­ised cargo but also pro­vide our hin­ter­land cus­tomers port ser­vices closer to their premises.”

US Bhar­tia, Chair­man, IGL said, “We are ex­cited to work with the team at ALS. We will be sup­ported by ALS do­main ex­per­tise to man­age sup­ply chain man­age­ment of our in­bound and out­bound car­goes to and from the man­u­fac­tur­ing plant and thereby this part­ner­ship will al­low us to con­cen­trate more on our core business.”

The Ka­shipur ter­mi­nal is de­signed to serve cap­tive vol­umes of IGL and is ex­pected to cap­ture third party vol­umes in the hin­ter­land.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.