|
| Exchange Disseminated Time | India Glycols Ltd has informed BSE that the Company is setting up a Private Freight Terminal (PFT) under a joint venture with Fourcee Infrastructure Equipments Pvt. Ltd. providing railways-based logistics services and other facilities at Kashipur, Uttarakhand, 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 to this effect and have agreed to enter into a joint venture 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 solutions 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, would also ensure on-time delivery of goods and enable better Inventory management.
The Parties have entered into a MOU on March 26, 2011 to set out the broad framework based on which the Parties shall fulfill their respective obligations and jointly manage the operation and management of the PFT. |
|
|