Sical Logistics Ltd, India’s leading integrated multimodal logistics solutions provider for bulk and containerized cargo, has initiated the operations of its third container train on the Delhi – Chennai sector with the delivery of a third rake. Sical Multimodal And Rail Transport (SMART) Ltd, the 100% subsidiary of Sical operating and managing container trains, plans to add ten more rakes in its fleet by 2011.
Sical obtained the category 1 pan-India license in January ’07 to run container trains for EXIM and domestic cargo. The Company initiated the operations of its first container train from Hatta Road Railway station in Balaghat District, Madhya Pradesh on March 05, ’08, providing complete multimodal logistics solutions to M/s. Hindustan Copper Ltd (HOL). The Company has since transported about 0.5 lakh tons of copper concentrates, copper cathodes and finished products of HCL to and from Ghatsila in Jharkhand, Khetri in Rajasthan and Taloja near Mumbai.
Sical’s second rake is deployed on the Delhi – Chennai sector carrying general cargo like cars, steel pipes, malt, raw rubber and industrial chemicals amongst others. The Company has transported about 20,000 tons of cargo on the Chennai – Delhi sector since August ’08.
Speaking on the occasion Ashwin C Muthiah, Chairman Sical Logistics said, “We are pleased at the addition of the third rake to our growing rail business. Its deployment on the North South corridor enables us to offer better services to our customers with enhanced capacity and frequency. We plan to add a fourth rake in our fleet by December ’08, to be deployed also on the Delhi – Chennai sector. Our EXIM business will commence operations by January ’09 with the development of the second container terminal at Chennai port, which will further strengthen our competitive position in the container train segment.”
The deployment of the third rake on the North South corridor promises improved frequency with one train every four days which will be further enhanced with the addition of the fourth rake, to three trains a week. The Company has a strategic tie-up with Sattva Conware Pvt Ltd, for establishing the ICD at Melpakkam, enabling it to easily service the industrial belt of Sriperumbudur, Ranipet, Trichy, Puducherry and Salem. The Company also has an agreement to access a private rail siding at Pat near Delhi which it currently utilizes for the operations of its second rake.
The Stock closed the day at Rs.29.60, down by Rs.3.80 or 11.38%. The stock hit an intraday high of Rs.33 and low of Rs.28.80.
The total traded quantity was 16084 compared to 2 week average of 13386.
