Apollo LogiSolutions forms a 51:49 joint venture with India Glycols Limited to set up an Inland ICD

KASHIPUR, India - Oct. 1, 2014 - PRLog -- New Delhi, October 1, 2014 – Apollo LogiSolutions Ltd. (ALS), promoted by Raaja Kanwar, has announced its foray in the Inland Container Depot (ICD) segment by entering into joint venture named Kashipur Infrastructure Freight Terminal Private Limited (JV) with India Glycols Limited (IGL). ALS will hold 51% in the JV. ALS is a logistics arm of Apollo International Limited, a diversification initiative of the Apollo Group promoted by Onkar Kanwar.

The JV will develop, manage and operate freight terminal at Kashipur, Uttarakhand at an estimated project cost of Rs. 90 Crs. The JV will be funded through combination of debt and equity. The facility is expected to be operational by April 2015.

Commenting on the development, Mr Raaja Kanwar, Vice Chairman and Managing Director, Apollo LogiSolutions said, “Our entry in the ICD segment is another significant step towards building integrated logistics capabilities. With this opportunity, we will not only be better equipped to handle and store containerised cargo but also provide our hinterland customers port services closer to their premises.”

Mr. US Bhartia, Chairman, IGL “We are excited to work with the team at ALS. We will be supported by ALS domain expertise to manage supply chain management of our inbound and outbound cargoes to and from the manufacturing plant and thereby this partnership will allow us to concentrate more on our core business.”

ALS’s current foray into ICD is backed by its experience of operating large dry ports at Panvel, Mumbai and at Chennai. The Kashipur terminal is designed to serve captive volumes of IGL and is expected to capture third party volumes in the hinterland.

About Apollo LogiSolutions Ltd

Established in 2009, Apollo LogiSolutions (ALS) is an Integrated Logistics solution provider. The company provides end to end integrated logistics services through its strong global network spread across multiple locations.

With the vision of being a leading integrated logistics solutions provider with multimodal capabilities and a wide geographical reach, ALS has achieved a strong position in a short span of time. ALS has assets across the logistics supply chain to meet the needs of its customers.

In 2012, ALS entered into a 60:40 joint venture with a leading German logistics company, FIEGE, to form APOLLO FIEGE Integrated Logistics (AFIL). In year 2013 and 2014 it acquired container freight station at Chennai and Dubai based logistic company Clarion Shipping Services respectively.

ALS has grown organically and inorganically in its journey so far and will continue to chart a strong course towards its vision of being a leader in the industry.

Website- http://www.apollologisolutions.com

About India Glycols Limited

India Glycols Limited (IGL) is engaged in the manufacturing and marketing of Chemicals including specialty Chemicals, Ethyl Alcohol (Potable), Nutraceutical and herbal extraction, Natural Gum & its derivatives, Industrial Gases, etc. having a turnover of more than Rs. 3000 crores.  The Company has the advantage of producing chemicals through reneweable route (green route) while the other manufacturers are manufacturing through fossil feedstocks.

The Company is the largest manufacturer of Bio-MEG in the world made out of agriculture feedstock i.e. Molasses and Ethanol. Bio-MEG has an application, apart from other products, in PET bottles, which is used for packaging of beverage products.

IGL is listed on BSE and NSE.

Website – http://www.indiaglycols.com/