MUMBAI: Apollo LogiSolutions and Singamas Container Holdings have formed a Joint Venture for liquid logistics operations in India.
This will entail the movement of liquids, primarily chemicals, either by rail or road, operation and management of movement of liquid tanks, their maintenance and cleaning. Apollo LogiSolutions Limited will hold 70% stake in this joint venture while the rest will be held by its partner.
The joint venture ‘ALS Singamas Logistics Ltd’, will invest over Rs 300 crores over the next three years to develop an ecosystem and deliver value to its customers, Apollo chairman Raaja Kanwar told ET.
He added the company’s clients would be the likes of Jubilant Lifesciences and Reliance Industries Petrochemicals division.
Apollo LogiSolutions is a wholly owned subsidiary of Apollo International. Hong Kong- based Singamas is a manufacturer of containers, operator of terminals and container depots and provider of logistics services. Its the subsidiary of PIL which operates a range of businesses spanning from shipping to container manufacturing and other logistics related services, with core business of container shipping.
PIL owns and operates a fleet of 160 vessels with 141 container ships of about 380,000 TEUs and 19 bulk carriers / multi-purpose vessels of about 1.5 million DWT.