Kolkata, Sep 30 (Inditop.com) Railway equipment manufacturer Stone India, through its subsidiary Stone Intermodal, has joined hands with the US-based Railrunner NA to manufacture, maintain and market seamless road-rail containers, a top official said here Wednesday.
“We are waiting for the design approval from Indian Railways, which is expected to come within six to 12 months. The first trial run is expected within 18 months,” Amitava Mondal, chief executive and managing director of Stone India, told reporters here.
The company expects to launch the services with two trains each having 50 containers within 36 months, he said.
The total capital expenditure for the project is to the tune of Rs.150 crore, to be invested in two phases.
“For the first phase, we will have an investment of around Rs.25 crore, which is completely through internal accruals and equity,” Mondal said, adding that the phase II would see coming up of a greenfield plant for the containers.
Stone Intermodal would supply only technology. It would not pick up any stake in the plant.
“We will help in transporting cars and many other raw materials from mining zones,” Mondal said.
Many fast moving consumer goods companies have shown interest in the project, he said, declining to specify names.
