Transport Corp plans to invest Rs 100 cr for expansion

Posted by Daily Shipping Times on 13-03-2013        Tweet

 

Kolkata :  Logistics company Transport Corporation of India (TCI) has set Rs 100 crore investment plan for capacity building in the next fiscal. The company plans to acquire a ship, add on to its warehousing capacities and expand the fleet of trucks.

“We will spend over Rs 100 crore in FY14 for setting up warehouses and road transport facilities as also for buying a vessel at an estimated cost of Rs 25 crore,” Vineet Agarwal, Joint Managing Director, TCI, told.

In 2012-13, the company, however, turned cautious in view of the economic slowdown and reduced its estimated investment by 50 per cent.

“The investment in FY13 should end at Rs 75 crore for developing hubs and warehouses. The original plan was to invest Rs 150 crore,” Agarwal said. TCI has spent nearly Rs 35 crore for additions to its fleet of trucks, he said. The company is currently developing a 1.5 lakh square feet warehouse at Nagpur. The company operates a fleet of nearly 8,000 trucks of which 6,500 are hired.