| SICAL to invest Rs 350cr for container trains |
| Our Web Bureau / Mumbai February 15, 2006 |
| South India Corporation Agencies (SICAL) today announced plans to invest Rs 350 crore to operate container trains. According to a release issued by SICAL to the BSE today, the investment will go towards developing container train operations connecting Jawaharlal Nehru Port Trust (JNPT) at Nhava Sheva, near Mumbai, to the company's existing inland container deport at Noida, near Delhi, and towards developing similar operations on three other strategic routes in India. "Major expenditure will include creating facilities with railway sidings at the inland locations, and investments in container rolling stock and handling equipment," the release added. Ashwin Muthiah, vice chairman of SICAL, said container train operations would add significantly to the growth of India's logistics sector. "We are delighted that Indian Railways has opened the door for private sector participation in this exciting opportunity. SICAL |
