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India Glycols is setting up a Private Freight Terminal (PFT) under a joint venture (JV) with Fourcee Infrastructure Equipments for providing railways based logistics and other facilities at Kashipur, Uttarkhand as provided under extant guidelines of the Indian Railways. The facility would be adjacent to the existing plant of the company at Kashipur.
The parties have signed a Memorandum of Understanding (MoU) on 26 March 2011 to this effect and have agreed to enter into a JV to co-operate and partner with each other for the purpose of setting-up, operating and managing the said Private Freight Terminal (PFT) in order to provide multi modal logistics solution to the company and external customers and enhance its service delivery capacity.
With the commissioning of this facility, logistics movement for both inbound and outbound cargo would become more dependable, reliable, economical and would also ensure on time delivery of goods and enable better inventory management.
The company made this announcement during the trading hours today, 28 March 2011.
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