RITES Ltd, a transport infrastructure consultancy and engineering firm, signed a memorandum of understanding (MoU) with Power Finance Corporation (PFC) to explore avenues of mutual collaboration for consultancy works in sectors such as Transport & Logistics, Energy, Water & Sanitation, Communication, Social and Commercial Infrastructure. As part of the MoU, RITES will provide expertise for Pre-Feasibility Reports, Detailed Project Reports, Transaction Advisory, Project Management services, Audits, and Inspection, where PFC and its subsidiaries propose to provide financial assistance for infrastructure projects in India and abroad. The MoU will establish a working relationship between the parties targeting specific requirements and will facilitate the development of proposals, including exploring opportunities at various Government/Semi-Government/autonomous bodies or authorities/private entities and multilateral funding agencies such as World Bank, Asian Development Bank and JICA. Manobendra Ghoshal, Chief Strategy Officer, RITES, said, “The partnership with PFC will not only provide a platform to explore business opportunities in the Consultancy domain but also facilitate knowledge sharing in developing Infra4Future.”

The IRB Golkonda Expressway, a Project SPV of IRB Infrastructure Developers has signed the Concession Agreement with Hyderabad Metropolitan Development Authority (HMDA) for Tolling, Operations & Maintenance of Jawaharlal Nehru Outer Ring Road, (Hyderabad ORR) in the State of Telangana on Toll-Operate-Transfer (TOT) basis. Project involves making upfront payment of Rs.7,380 Crs to HMDA for Tolling and O&M of 158 Kms stretch of Hyderabad ORR, over a revenue linked Concession Period of 30 Years Virendra D. Mhaiskar, Chairman & Managing Director said, “It’s our honour to have this prestigious project in our portfolio. We are grateful to the authorities for expressing high trust and confidence in IRB Infra’s rich domain expertise, experience and impeccable record of executing large sized projects across varied geographical terrains of the country. Considering our track record of more than two decades in arranging finances for large sized projects, coupled with our key strength of maintaining strict and strong financial discipline throughout, we are confident of achieving financial closure within stipulated timeframe and get appointed date for taking possession of the project.” He added, “We look forward to bringing World Class travel and project management experience for commuters and other stakeholders of the project.”

Neutral Air Partner (NAP) has partnered with the ATEM Group to launch NeX e-commerce supply chain logistics network. “NeX is an international group of experts focused on advancing the interests of the e-commerce supply chain logistics industry. This is a strategic partnership that brings together a collective of industry-leading logistics providers committed to delivering flawless omni-channel fulfilment operations, cross-border transportation, distribution, return logistics, and end-to-end e-supply chain management,” said an official release from NeX. The network includes highly specialised supply chain logistics experts including express couriers, postal brokers/operators, linehaul consolidators, first & last mile operators, gateway customs brokers, return/reverse logisticians, resellers/wholesalers, e-fulfillment providers, e-commerce marketplaces, 3PLs & distribution providers, tech and solution providers, consultants, carriers, e-tailers, and shippers, the release added. “NeX is an innovative platform that will revolutionise the e-commerce supply chain industry,” said Christos Spyrou, CEO, Neutral Air Partner. “We are proud to partner with the ATEM Group to create the most advanced network of supply chain experts. NeX will provide members with the tools and resources they need to stay competitive in the ever-evolving eCommerce landscape with the power of NAP. NeX members benefit from the global reach of e-commerce experts, building trust in a complex sector, express mail and freight buying power, advanced e-logistics community tools, omnichannel network operations, global contracts with carriers and postal operators, volume incentive schemes, and industry recognition of excellence.”

The government is working to bring down logistics cost to 9 per cent of GDP in the next three years from the current 14-16 per cent, said Nitin Gadkari, Union Minister for Road, Transport and Highways. He said, India’s exports will increase when its logistics cost will come down to single digit. He was speaking at an event organised by industry chamber CII . “The government is going by certain estimates which suggest that logistics cost in India is in double digits. The government has rolled out a national logistics policy and PM Gati Shakti initiative to boost competitiveness of industry and cut logistics costs. Earlier this year, the commerce and industry ministry had said that a task force will be set up for formulating a framework to determine logistics costs in the country.”

As part of its expansion strategy, Challenge Group is ready to receive investment of over €60m from Investec Aviation Finance to support acquisition and freighter conversion of a batch of four Boeing 767-300ERs. “This conversion programme is the keystone in Challenge Group’s expansion strategy as it allows it to increase its current fleet of eight widebody freighters,” says the company’s chief investment officer, Michael Koish. “This was no straightforward financing deal. But thanks to strong co-operation and out-of-the box thinking, we were able to solve some of the complicated issues that popped up along the way.” Challenge Group’s logistics operation also includes a cargo terminal in Liege. Investec says the funding has been underwritten jointly by its UK and South African aviation arms. Challenge Group operates carrier divisions in Israel – the company formerly known as CAL Cargo Airlines – as well as Belgium and Malta, and its fleet includes Boeing 747-400 as well as 767 freighters.

FedEx has launched FedEx Innovation Lab (FIL) to collaborate with digital start-ups in India. These collaborations will help expand advanced digital capabilities globally as it continues to evolve its operations and product offerings to meet the needs of the modern supply chain. The partnerships formed through FIL will benefit customers globally. FIL will make early-stage investments in these partnerships and bring additional value in terms of capabilities and speed to market to start-up firms through the FedEx network, resources, and global customer base. FIL’s first investment is in Mad Street Den, a computer vision and Artificial Intelligence (AI) company that is a leader in enterprise AI solutions. The start-up’s AI platform enables marketing, product and technology teams to improve and optimize efficiencies. Their products are deployed across several industries, including retail, healthcare, finance, media and entertainment, education, and more. “India is at the core of innovation strategies for global technology leaders. Following the recent announcement of our plans to open the first Advanced Capability Community in Hyderabad, FIL further reinforces the importance we place on tapping new technologies and a wide range of talent,” said Kami Viswanathan, Senior Vice President, FedEx Express, Middle East, Indian Subcontinent and Africa region. “There is much mutual benefit that can be gained as well as a tremendous opportunity to help transform the global logistics industry. We would welcome any interest from innovators in India with a shared interest in our vision.”

Investopia signed a Memorandum of Understanding (MoU) with the Confederation of Indian Industry (CII) to facilitate the exchange of expertise and knowledge between business delegations, and to promote investment opportunities in Indian-UAE markets across new economic sectors. MoU is signed as part of the company’s efforts to establish new partnerships with leading local and global institutions and entities. Under the terms of the agreement, the two parties will organize joint events and conferences to enhance communication at the private sector level, thereby strengthening economic and investment ties between the two countries. The MoU was signed by Badreya Al Maidoor, Assistant Undersecretary of Support Services Sector at the UAE Ministry of Economy; and Sanjiv Bajaj, President of CII, in New Delhi, in the presence of H.E. Abdulla bin Touq Al Marri, UAE Minister of Economy, and Chairman of Investopia. Badreya Al Maidoor said: “The signing of the MoU with the Confederation of Indian Industry reflects Investopia’s vision and confidence in the Indian market, as one of the most important global strategic markets teeming with promising investment and trade prospects. It builds on the global dialogue launched by the platform in India, the first outside of the UAE, which included two sessions in Mumbai and New Delhi in May 2022.” “By joining hands with CII, we look forward to sharing experiences and knowledge and business delegations to promote investment opportunities in both Indian and UAE markets, across new economic sectors, especially circular economy, family businesses, renewable energy, tourism, technology, and innovation,” she added. Through the partnership, CII will participate in the third edition of Investopia’s annual conference, which is set to be held in the UAE from 28 to 29 February, 2024.

Vaibhav Vohra, Managing Director, Continental Carriers talked about the benefits of Air Freight Stations (AFS) and services offered by its first Greenfield air freight stations near IGI airport, and how such facilities promote EODB and remove congestion and dwell time. He highlighted, carting order management, truck docks for loading/off loading cargo, availability of customs officials with online ICEGATE connection, customs processing/ clearance, palletization and containerization facility as key services. He also focused on navigating complexities of logistics infrastructure and cross-border services and highlighted few challenges which the freight forwarders face at the terminals like congestion, complex documentation, regulatory compliance, labour management, security measures, coordination and infra limitations. Continental Carriers Group of Companies is set to open one of India’s first Greenfield air freight stations, where Customs Clearance, Cargo Consolidation, and Palletization will all take place at the AFS facility, and goods will be delivered in pallets ready to load on planes at Delhi International Airport.

Talking about Govt. of India’s highly ambitious initiatives like Gati Shakti and National Logistics Policy, Sagar Kadu, Director Logistics, Ministry of Commerce & Industry, Government of India, said, “Both Gati Shakti, and NLP have been launched to enable Ease of Doing Business (EoDB), improve connectivity & make Indian businesses more competitive. We are the facilitators of the industry and the policies are being aligned as per the requirements of the industry.” He was speaking at the second edition of Supply Chain and Logistics conclave 2023 in New Delhi. “To improve the overall multimodal infrastructure of the logistics sector, government of India has launched these two master plans. These schemes will not only improve connectivity but also will bring Ministries including Railways and Roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects like Bharatmala, Sagarmala, inland waterways, dry/land ports, UDAN etc., to improve connectivity & make Indian businesses more competitive.”

Qatar Airways Cargo and Envirotainer have joined forces to offer sustainable solution for shipping temperature-sensitive pharmaceuticals to where they are needed most. By capitalising on both organisations’ extensive network capabilities, along with Envirotainer’s cutting-edge Releye® solution, CO2 emissions for shipments can be reduced by up to 90% compared to other solutions. The Releye® RLP and RLP solutions also ensure precise temperature control throughout the entire transportation process, meaning this partnership guarantees the utmost integrity and quality of temperature sensitive cargo like never before. Miguel Rodriguez, Head of Cargo Products at Qatar Airways Cargo said: “I am thrilled to announce the reinforcement of our strategic partnership with Envirotainer, a global leader in temperature-controlled air transportation solutions. This collaboration marks a significant milestone for Qatar Airways Cargo as we continue to enhance our capabilities in delivering pharmaceuticals and other temperature-sensitive cargo worldwide. At Qatar Airways Cargo, we understand the criticality of maintaining the cold chain and ensuring that pharmaceuticals reach their destination in optimal conditions. By joining forces with Envirotainer, we can offer our customers seamless access to their industry-leading containers, which are specifically designed to meet the stringent requirements of the pharmaceutical industry. Commenting on the partnership, Akos Balkanyi, Global Key Account Manager, expressed his enthusiasm, stating, “Through the optimisation of our operations and investment in cutting-edge solutions such the Releye® units, we are actively reducing our environmental impact and contributing to a greener future reducing up to 90% our CO2 emissions. We are excited about this collaboration and the positive impact it will have on our customers and the industry as a whole.” The collaboration between Qatar Airways Cargo and Envirotainer underscores ongoing commitment of both organisations to investing in …