BRIEF-Apollo LogiSolutions forms JV with Singamas Container to facilitate liquid logistics ops in India

March 31 (Reuters) - Apollo Logisolutions:

* Apollo Logisolutions forming JV with Singamas Container

Holding

* Apollo Logisolutions will hold 70% stake in joint venture

* JVCO to invest INR 3 billion in next three years

* JV to facilitate liquid logistics operations in India

* Apollo logisolutions says joint venture called 'ALS

Singamas Logistics Ltd'

Source text:

[Apollo LogiSolutions Limited (ALS) and Singamas Container

Holdings Limited (“Singamas”) have formed a Joint Venture for

liquid logistics operations in India. This brings into account

the movement of all types of non-POL liquids 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.

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. ALS Singamas Logistics Ltd

also aims to reduce the carbon footprint by consolidating its

efforts to move container traffic from roads to railways. The

partnership with Singamas, a PIL subsidiary, will help leverage

innovation and technological aspect of the business and will

also enable the use of specialized tanks with GPS enablement for

transport facilities. It will also bring into use containers

with enhanced capacity which will facilitate easy movement of

logistics.]