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Infrastructure status to Logistics Industry - TCI's position

Posted On: 2017-11-22 01:06:00

Transport Corporation of India Ltd., India's leading integrated supply chain and logistics solutions provider, commented on TCI's position on government announcing infrastructure status to the Logistics Industry.

Logistics infrastructure has been a most important aspect for economic development and urbanization. To enable this, huge investment is required. The government recognizing its pivotal role has recently granted infrastructure status to the logistics sector.

Commenting on the move, Mr. Vineet Agarwal, M D, Transport Corporation of India Ltd. (TCI Ltd.) mentioned, "It is commendable that this Government has acted on granting infrastructure status to our industry, a recommendation our company has been making for several years. Not only will FDI increase in this sector but infrastructure finance will be easily accessible to build state of the art infrastructure for managing complex supply chains. We also expect upcoming Industrial parks to dedicate space for logistics services and more impetus to sectoral skill development".

TCI as a company has been in the forefront of creating required infrastructurc for its customers across India. These investments are not restricted only to the main metros and cities but in tier 1 & 2 cities and even in remote locations. A testimony to this is that TCI through its 800 offices and 11 million sq. ft. warehousing space manages 2.5% of India's GDP by value.

In the last 5 years, TCI has invested more than Rs. 500 Crs in creating world class cold storages, warehouses Hubs and multi modal network. These facilities are equipped with investments in latest MHE (material handling equipment) and M H S (material handling storage systems) for industry segments like e-commerce, retail, FMCG, automotive and others.

TCI, has also done investments in rail and coastal multimodal logistics. In continuation to these investments TCI was part of the signatories in June 2017 with NHAI for development and furthering of Multi-modal logistics parks.

Shares of TRANSPORT CORPORATION OF INDIA LTD. was last trading in BSE at Rs.287.5 as compared to the previous close of Rs. 291.8. The total number of shares traded during the day was 34314 in over 823 trades.

The stock hit an intraday high of Rs. 304.5 and intraday low of 286. The net turnover during the day was Rs. 10200978.


Source: Equity Bulls

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