Stone Intermodal Pvt. Ltd., a wholly-owned subsidiary of Stone India, has signed an agreement with RailRoadrunner of the U.S. to manufacture, operate and sell new generation freight cars for seamless door-to-door transportation service on rail and road. The collaboration provides for exclusivity in marketing, manufacturing and operating rights in India for ten years initially.
The company said for the first time, freight movement will have air-cushioned ride, articulated bogie, which will enable the coaches to run at a speed of an express train, permitting movement of fragile products.
Rs. 150 crore outlay
The company has already received commercial and operating clearance from the Railways and design validation is in progress.
Stone India Managing Director and CEO A. Mondal said the project outlay would be Rs. 150 crore in two phases.
