JVCo to invest Rs 300 crores in next three years
Hyderabad, March 31, 2017: Apollo LogiSolutions Limited (ALS) and Singamas Container Holdings Limited (“Singamas”) have formed a Joint Venture for liquid logistics operations in India. This brings into account the movement of all types of non-POL liquids either by rail or road, operation and management of movement of liquid tanks, their maintenance and cleaning. Apollo LogiSolutions Limited will hold 70% stake in this joint venture.
The joint venture ‘ALS Singamas Logistics Ltd’, will invest over Rs 300 crores over the next three years to develop an ecosystem and deliver value to its customers. ALS Singamas Logistics Ltd also aims to reduce the carbon footprint by consolidating its efforts to move container traffic from roads to railways. The partnership with Singamas, a PIL subsidiary, will help leverage innovation and technological aspect of the business and will also enable the use of specialized tanks with GPS enablement for transport facilities. It will also bring into use containers with enhanced capacity which will facilitate easy movement of logistics.
This will boost logistics services which will include container freight station, inland container depots, freight forwarding, custom brokerage, 3PL, warehousing and allied services.
On the occasion, Mr. Raaja Kanwar, Vice - Chairman &Managing Director, ALS, said, “ALS has been one of the leading integrated logistics solutions provider with multimodal capabilities and a wide geographical reach. The logistics industry is also growing at a robust speed as the Central Government is placing a lot of emphasis on the infrastructure. Pacific International Lines (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.’
Mr. SSTeo, Chairman, Singamas Containers Holdings, said, “We are extremely happy to join hands with ALS, a recognized player in the logistics landscape of India and globally. 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".
About Apollo LogiSolutions: Established in 2009, Apollo LogiSolutions (ALS) is an Integrated Logistics solutions provider and a subsidiary of Apollo International Limited (AIL). The company provides end to end integrated logistics services through its strong global network spread across multiple locations. With the vision of being a leading integrated logistics solutions provider with multimodal capabilities and a wide geographical reach, ALS has achieved a strong position in a short span of time.
About PIL : - Founded in 1967, PIL operates a range of businesses spanning from shipping to container manufacturing and other logistics related services, with core business of container shipping. PIL owns and operates a fleet of 160 vessels with 141 containerships of about 380,000 TEUs and 19 bulk carriers / multi-purpose vessels of about 1.5 million DWT. PIL is ranked 15th amongst the top containership operators in the world. PIL operates container liner services covering the whole of the Far East to Europe, north and south America, the Indian sub-continent, Middle East, Red Sea/Gulf, Africa, Australia, New Zealand and Pacific Islands. It has a dedicated network of feeder services covering a comprehensive range of ports in South East Asia, the Bay of Bengal, East Coast of India, Africa, Micronesia and the Pacific Islands. PIL is also offering a direct link for project and break bulk shipment through its Multi-Purpose Service between the Far East and Africa, Red Sea and India Sub-continent.
About Singamas: Founded in 1988 Singamas Container Holdings Limited (“Singamas”) is a leading manufacturer of containers, operator of terminals and container depots and provider of logistics services. Its manufacturing business covers ten container factories located in the PRC. Its logistic operations include ten container depots/terminals, eight located in key locations in PRC and two in Hong Kong.