Global logistics and supply chain services company, Arshiya International, today said it plans to invest Rs 1,600-crore into its rail business--Arshiya Rail Infrastructure.
This capex would be deployed towards acquiring 3,375 wagons (75 rakes plus break vans), a press release issued here stated.
The capex would also be deployed for the building of rail sidings and other necessary infrastructure across the country.
The 75 rakes would be delivered over 18-months, making Arshiya Rail Infrastructure the largest private rail operator in the country by end-2009, the release said.
The first rake is expected to be deployed on November 15 this year.
The company has fared well in Q1 FY 09 with its net profit on a consolidated basis rising to Rs 19.51-crore as against Rs 6.88-crore in the year-ago period.
Its total income expanded 83.24 per cent to Rs 144.52-crore in the reporting quarter as against Rs 78.87-crore in the year-ago period. Its earnings before interest, tax, depreciation and amortisation (EBITDA) grew 196.26 per cent to Rs 24.53-crore, the release said.