Japan’s Konoike Transport, Associated Container Terminals form JV
Latest News »
- Day before Nandyal bypoll, TDP and YSR Congress file complaints against each other
- RBI hikes foreign investment limit in Eris Lifesciences to 49%
- Retiring L&T executive chairman A.M. Naik to get Rs32.21crore leave encashment
- Pakistan stocks enter bear market after political turmoil
- In his last L&T AGM, A.M. Naik says firm’s focus to remain on defence, infra sectors
New Delhi: Konoike Transport of Japan has formed a joint venture called Trac1 Logistics with India’s Associated Container Terminals Ltd to run private container trains in India.
Konoike is the first Japanese company to enter the private container trains business in India.
Associated Container chairman R.R. Joshi said the company is set up with an investment of around Rs100 crore, which will initially run four trains between Faridabad and Gujarat.
Trac1 Logistics is the 17th firm licensed by Indian Railways to run private container trains.