Monday, March 12, 2007

IDFC invests Rs. 45 crores in logistics company DARCL

Logistics company Delhi Assam Roadways Corporation Limited (DARCL) has raised Rs. 45 crores through stake sale to private equity firm IDFC Private Equity for part funding its expansion plans, which include starting container train operations.

The company has entered into an agreement with the Indian railways to operate container trains throughout the country and expects the new business to push it overall revenues to the Rs. 1000 crore-mark by 2008-09. The company would invest Rs. 50 crores in acquiring three rakes and 600 containers and the container freight business expected to be operational by September 2007.

The company expects the container train business to contribute Rs. 300 crores to its overall revenues in the next two years. The company operates over 5000 trucks through out the country and caters to a host of corporate and public sector companies.

Read more in The Economic Times article.

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