ALS, Singamas form JV; to invest Rs 300 crore in next 3 years
HYDERABAD: Apollo LogiSolutions Ltd (ALS) and Singamas Container Holdings Ltd (Singamas) have formed a joint venture for liquid logistics operations in India.
"The joint venture 'ALS Singamas Logistics Ltd' will invest over Rs 300 crore over the next three years to develop an ecosystem and deliver value to its customers," a joint statement issued by the two firms here said today.
ALS will hold 70 per cent stake in the JV.
"The partnership with Singamas, a PIL (Pacific International Lines) subsidiary, will help leverage innovation and technological aspect of the business and will also enable the use of specialised tanks with GPS enablement for transport facilities.
It will also bring into use containers with enhanced capacity which will facilitate easy movement of logistics," it said.
Vice chairman and Managing Director of ALS, Raaja Kanwar said, "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."
Chairman, Singamas Containers Holdings, S S Teo said that 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.
"The joint venture 'ALS Singamas Logistics Ltd' will invest over Rs 300 crore over the next three years to develop an ecosystem and deliver value to its customers," a joint statement issued by the two firms here said today.
ALS will hold 70 per cent stake in the JV.
"The partnership with Singamas, a PIL (Pacific International Lines) subsidiary, will help leverage innovation and technological aspect of the business and will also enable the use of specialised tanks with GPS enablement for transport facilities.
It will also bring into use containers with enhanced capacity which will facilitate easy movement of logistics," it said.
Vice chairman and Managing Director of ALS, Raaja Kanwar said, "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."
Chairman, Singamas Containers Holdings, S S Teo said that 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.
