MUMBAI: Pristine Group of companies, a firm in the space of operating private freight terminals (PFT), has bought out the container train operating licence of Reliance Infrastructure, an ADAG firm. Pristine now gets the licence to operate container trains for the remaining 13 years of the 20-year period.
Private Freight Terminals are terminals that allow companies to provide containers and other kinds of cargo.
“We are buying only the licence. We will sign the agreement with the Railways. We will buy the rakes subsequently, although initially, we will operate through the leasing model,” Amit Kumar, Director, Pristine Group of Companies, told.
Pristine had in 2015 entered into a definitive agreement to raise Rs. 150 crore from the CDC Group plc, one of the largest development finance institutions in the world.