Brief: Apollo LogiSolutions forms JV with Singamas Container to facilitate liquid logistics ops in India

Singamas Container Holdings

31/03/2017 09:25

March 31 (Reuters) - Apollo Logisolutions: 
    * Apollo Logisolutions forming JV with Singamas Container 
Holding 
    * Apollo Logisolutions will hold 70% stake in joint venture 
    * JVCO to invest INR 3 billion in next three years 
    * JV to facilitate liquid logistics operations in India 
    * Apollo logisolutions says joint venture called 'ALS 
Singamas Logistics Ltd' 
 
Source text: 
[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.] 
 
 ((Bangalore.newsroom@thomsonreuters.com;))