Financial Daily from THE HINDU group of publications
Sunday, Mar 05, 2006
Financial Daily from THE HINDU group of publications Sunday, Mar 05, 2006 |
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Logistics
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Railways NOL gets nod to run container trains Our Bureau
Mumbai , March 4 Neptune Orient Lines, a global transportation and logistics company, has announced that its new joint venture company has received the in-principle approval from the Government to provide freight rail services in India. The approval was granted to India Infrastructure and Logistics Pvt Ltd, a joint venture between NOL and Hindustan Infrastructure Projects and Engineering Pvt Ltd (HIPE), which is controlled by Mr Rajeev Chandrashekar. The company got the approval under the Category I licence, conferring rights to run unlimited trains on all routes for an initial period of 20 years. "This marks HIPE's first investment in the transportation sector, which is an important focus area of the company," Mr Chandrashekar said.
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