CDC, the UK’s government owned development finance institution, is making a US$25m direct investment in Pristine Logistics, an Indian company that develops and operates infrastructure to transport and handle railway freight in rural and under-served parts of the country.
Pristine Logistics focuses largely on the low income states of India, such as Uttar Pradesh and Bihar, where essential infrastructure is important to economic growth and development. The company is developing, constructing and operating greenfield rail freight terminals across northern, central and eastern India, encompassing some of the least developed regions of the country. The terminals provide handling, warehousing and transport services for businesses using the Indian Railways network for freight transport.
Srini Nagarajan, CDC’s Head of South Asia said, “Pristine Logistics has the potential to become one of the largest terminal operators in India in an exceptionally developmental sector and geography.”
Rajnish Kumar, Director at Pristine Logistics said, “CDC is a natural investment partner for us and this development will unlock the full potential of Pristine. We see commercial opportunities in locations where investment is historically problematic.”
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