Gateway Distriparks has announced that it will be starting container train services at rail-connected inland container depot (ICD) Kashipur in Uttarakhand. The company has stated that it will be starting EXIM and domestic container train services from December 4.
Gateway Distriparks already operates a fleet of 31 rakes and the company plans to run services between ICD Kashipur and the ports of Mundra, Pipavav, and Jawaharlal Nehru Port Trust in Navi Mumbai.
Gateway Distriparks on Wednesday said that it will be starting container train services ahead of the acquisition of ICD Kashipur by the company from existing container train operator Kashipur Infrastructure and Freight Terminal Private Limited (KIFTPL).
The complete share purchase agreement between GDL and KIFTL is expected to complete by the end of the year. GDL had acquired a 99.92 percent stake in KIFTPL for Rs 156 crore in a share purchase agreement (SPA).
GDL reported revenue of Rs 359 crore in the September quarter compared to Rs 665 crore in the year-ago period. The company’s profit stood at Rs 59.06 crore from Rs 90.51 crore in the year-ago quarter.
The company’s shares were trading at Rs 67.35, down 1.03 percent, BSE in the pre-close session on Wednesday.
Shares of Gateway Distriparks ended at Rs 67.30, down 1.17 percent.
