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Neptune Orient gets nod for freight rail services

Staff Correspondent

MUMBAI: Neptune Orient Lines (NOL), the Singapore-based global transportation and logistics company, has announced that its new joint venture company, India Infrastructure and Logistics Pvt. Ltd. (IIL), has received the `in principle' approval from the Union Government to provide freight rail services in India.

IIL is a joint venture with Hindustan Infrastructure Projects & Engineering Pvt. Ltd. (HIPE), promoted by Rajeev Chandrasekhar of the BPL group.

India's Ministry of Railways issued the approval `in principle' for a `Category 1' licence conferring rights to run unlimited trains on all-India routes, for an initial period of 20 years which is extendable by another 10 years.

Initially, the joint venture will concentrate on the Mumbai-Delhi route, where it anticipates offering a market-leading service.

According to NOL's Group Deputy President, Cedric Foo, "by investing in landside facilities, we will complement and differentiate our lines services in India and at the same time develop a new stream of logistics income for the group.''

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