APL IndiaLinx to invest $60 mn in one yr

MUMBAI: Container rail freight service provider APL IndiaLinx said it plans to invest $60 million in the next one-year.

APL IndiaLinx would invest $60 million in acquiring rail licences, rolling stocks, nine rakes and inland container depots, Neptune Orient Lines President Kenneth Glenn told reporters here.

APL IndiaLinx is a 76:24 joint venture between Neptune Orient Lines and Hindustan Infrastructure Projects and Engineering.

The company has maintained 90 per cent utilisation of its rakes between Mumbai and Delhi for which it began its services in May, Glenn said.

Soon, it would begin its second rail services between Mumbai-Delhi, he added.