04 October 2016
PIL Group signs 2 MOUs with Apollo LogiSolutions.
Mr S Iswaran, Minister for Trade and Industry, Government of Singapore; Mr Suresh Prabhu, Union Minister for Railways, Government of India; Mr Chandrajit Banerjee, Deputy General of the Confederation of Indian Industry; Mr S S Teo, Managing Director of Pacific International Lines and Mr Rakesh Gupta, Chief Financial Officer of Apollo LogiSolutions were in attendance to witness the event.
The first MOU was signed between Singamas, a wholly-owned subsidiary of PIL, and Apollo LogiSolutions. The MOU facilitates the formation of a joint venture company dealing with liquid tank logistics in India. The company will oversee the transportation of all types of non-petroleum liquids in tank containers, either by rail or by road in India. It will also own and manage a fleet of liquid tanks.
The second MOU was signed between PIL and Apollo LogiSolutions. The MOU facilitates the formation of a joint venture company that will provide container freight station services across India. Apart from catering to PIL Group's needs, the company will also market their services to other shipping lines.