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| Cox & King to roll out luxury train in Jan 2010 |
| Press Trust of India / Jaipur Nov 17, 2009, 18:04 IST |
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Travel and hospitality company Cox & King (India) is all set to roll out its luxury train christened as Maharajas’ Express in January 2010. The 23-coach train is a 50:50 joint venture between Cox & King and Indian Railway Catering and Tourism Corporation (IRCTC).
"The coaches of this 45-crore luxury train is being manufactured at Integral Coach Factory in Chennai. Interiors are being done by renowned designers from India and abroad. The combined strength of IRCTC in rail based tourism and hospitality and ours in high-end international tourism would make this a state-of-the-art luxury train. While, IRCTC will be involved in the operations, we will leverage our offices to market the product globally," Cox and Kings CFO Anil Khandelwal said.
The luxury train has a passenger capacity of 84. It is the first luxury train that boasts of four distinct configurations. It has five deluxe carriages, each with four cabins; six deluxe cabin carriages, each with three cabins; two suite carriages each with two suites and finally one presidential suite exclusively in one carriage.
"It would have 16 scheduled journeys every year traversing through Maharashtra, Gujarat, Rajasthan, Delhi in the first leg and then Agra, Khajuraho, Bandhavgarh, Varanasi, Gaya and Kolkata in the second leg," he said.
The company expects to raise Rs 610 crore from its forthcoming initial public offer, out of which Rs 150 crore would be used to finance acquisitions and other strategic initiatives.
"We will deploy around Rs 130 crore in repayment of loans while another Rs 125 crore would be invested in overseas subsidiaries and upgradation of existing corporate and existing offices," he added.
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