Kolkata based Stone India, a leading multi-product engineering company, has informed that it has entered into an agreement with US based RailRunner Inc.

Under the terms of the MoU, both companies will work together to deliver latest intermodal freight cars and transportation technology and systems in India.

According to the sources, this latest system will offer point to point movement of containerized goods between road and railway in a very economical and eco friendly manner.

Also, the proposed system will allow the container trains to run at the speed of the passenger trains.

The major activity of US based RailRunner Inc is to create Road-Ready Bi-modal Rail system, a railcar, trailer and container chassis system.

Stock of Stone India ended the day at Rs 53, up 0.28 per cent on Bombay Stock Exchange. The total volume of shares traded was 33,058 at the BSE.