Online edition of India's National Newspaper
Thursday, Feb 16, 2006
Online edition of India's National Newspaper Thursday, Feb 16, 2006 |
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Business
Staff Correspondent
CHENNAI: South India Corporation (Agencies) Ltd. (SICAL) plans to invest Rs. 350 crore to operate container trains. These trains will connect India's major ports and the hinterland for transport of goods for international and domestic trade. SICAL Vice-Chairman, Ashwin Muthiah, in a press release issued on Wednesday, has stated that the investment will go towards developing container train operations connecting the Jawaharlal Nehru Port Trust (JNPT) at Nhava Sheva, near Mumbai, to SICAL's existing inland container depot at Noida, near Delhi and towards developing similar operations on three other strategic routes. Major expenditure will include creating facilities with railway sidings at the inland locations and investments in container rolling stock and handling equipment. The container train operations are expected to add several new product lines to SICAL's existing folio of integrated multi-modal logistics. Besides, the new business will capture a large portion of SICAL's own 20 million tpa freight traffic that it transports with the Indian Railways, according to Mr. Muthiah.
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