TM International plans first private train operator service in 2016 to carry Tata Steel's steel coils
The service will be based on new wagons that the company has designed alongwith Railways' research and design arm, RDSO.
The service will be based on new wagons that the company has designed alongwith Railways' research and design arm, RDSO. The new wagon, to be made out of high strength steel is being manufactured by Texmaco Ltd and the first prototype is likely to be ready by mid-September 2015. Following this, these wagons will be subjected to intensive tests and trials by the Railways for a period of six months before they are approved for commercial launch.
Sharing the company's plans, Sandipan Chakravortty, chairman, TMILL said: “We are look ing at launching it sometime next year after getting the go head from the Railways. We are planning to acquire close to 300400 wagons which will be owned by us. For TMILL, it will be a whole new business in domestic freight segment. In times to come, it also promises to be one of the most prolific ones for us.“
The newly-design wagons will have a reduced length and lower tare weight compared to the existing ones and hence, will have higher freight carrying capacity.While one rake consists of 43 wagons at present, under the new design some 58 wagons will constitute a rake.
Elaborating on TMILL's strategic project initiatives, the company's managing director, RN Murthy said: “We are very excited about running our own trains through participation in Indian Railways' SFTO Scheme. “The scheme offers us vast opportunities to expand our freight logistic business in association with Indian Railways.“ He added TMILL was exploring opportunities to kick-start operations of private trains for carrying steel coils for Tata Steel under the SFTO Scheme. At present, the company is in various stages of completing approvals for internal processes of running such wagons besides finalizing the model concession agreement for operations of SFTO trains.
The company posted a 33% jump in profit before tax of Rs62.15 crore during 2014-15 compared to Rs 46.86 crore in 2013-14, even as its income went down 22.3% to Rs 851.19 crore in 2014-15 against Rs 1096.38 crore in 2013-14.TM International Logistics Ltd (TMILL) & its group companies reported nearly 17% jump in profit after tax at Rs 42.15 crore during the fiscal ended March 31, 2015 against Rs 35.98 crore during previous corresponding year. “TMILL had been quick in its response to the changed business environment impacting steel raw material trade flows and rising import demand which was reflected in the port operations of the company handling 11.26 million tonne (mt) of port cargo during 2014-15 against 5.58 mt in the previous year,“ Chakravortty, said.