Apollo LogiSolutions and Singamas Container Holdings have formed a joint venture for liquid logistics operations in India. The initial investment will be Rs 300 crore.
Apollo LogiSolutions (ALS) will hold 70 per cent stake in the joint venture and the rest will be with Singamas Container Holdings.
In a statement, the companies said the joint venture — ALS Singamas Logistics Ltd — will invest over Rs 300 crore over the next three years to develop an ecosystem and deliver value to its customers.
The new company will focus on movement of all types of non-POL (petroleum, oil and lubricants) liquids either by rail or road, operation and management of movement of liquid tanks, their maintenance and cleaning.
According to ALS Vice-Chairman & MD Raaja Kanwar: “PIL being a leader in shipping, container manufacturing and other logistics related services, this JV will help bridge the gap between Indian and global customers for their end to end logistics solutions”.
Singamas Containers Holdings Chairman S S Teo said: “Through this partnership ALS and Singamas will be able to exchange state of the art technologies and expertise which will benefit the industry at large.”
The partnership with Singamas will also enable the use of specialised GPS-enabled tanks for transport facilities, added the statement.
Image credit : apolloindia.com