Stone India arm signs accord with US firm | business | Hindustan Times
Today in New Delhi, India
Dec 18, 2017-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -
live
* Wins + Leads | Source : ECI/Media Reports

Stone India arm signs accord with US firm

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 (bi-modal) transportation systems, a top official said on Wednesday.

business Updated: Sep 30, 2009 19:14 IST

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 (bi-modal) transportation systems, a top official said on Wednesday.

"We are waiting for the design approval from the 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.

The company expects to launch the services with two trains each having 50 containers within 36 months from now, 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 has exclusive 10-year pact with Railrunner.

The US firm would only supply technology.