September 26, 2007 / 8:17 AM / 13 years ago

Gateway Distriparks to invest 6 bln rupees in rail unit

MUMBAI (Reuters) - Logistics firm Gateway Distriparks Ltd plans to invest 6 billion rupees over 30 months in its rail unit Gateway Rail Freight Ltd , a top official told Reuters on Wednesday.

“We will look at different ways of financing...private equity placement, borrowing money (through Gateway Rail) or Gateway Distriparks increasing its equity or financing in some way,” said Prem Kishan Gupta, vice-chairman and managing director.

The company has so far tied up debt of 2 billion rupees for the immediate phase of investment, to be spread over the second half of FY08.

Gateway, which is into container freight stations, cold chain logistics and rail transport, entered the road transport business in the second quarter of this year, to support its rail business, he said.

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