DP World, DPA, Nevomo ink pact to explore autonomous magnetic rail freight movement in India
DP World, Deendayal Port Authority and Nevomo are collaborating. They will explore autonomous magnetic rail freight movement in India. A pact was signed to explore a pilot project. Nevomo's MagRail technology will be used. It will enable self-prop...
The pact will help the companies to explore opportunities for development of a pilot project using Nevomo's MagRail proprietary technology for the self-propelled movement of rail-based cargo and freight within the existing port ecosystems, DP World said in the statement.
A Memorandum of Understanding (MoU) in this regard was signed by Sushil Kumar Singh, Chairman of Deendayal Port Authority (DPA), Rizwan Soomar, CEO & Managing Director, Middle East, North Africa, India Subcontinent, DP World, and Przemek (Ben) Paczek CEO Nevomo Group BV.
The MoU sets the framework for a 750-metre pilot project of MagRail technology at Deendayal Port, it added.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.