Moneycontrol Be a Pro
Get App
Last Updated : Jun 11, 2011 03:34 PM IST | Source: PTI

TCI to pump Rs 300cr to develop logistics parks, properties

Transport Corporation of India (TCI) today said it will invest up to Rs 300 crore to develop 20 integrated logistics parks, and commercial and residential properties in the next 3 to 4 years.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Transport Corporation of India (TCI) today said it will invest up to Rs 300 crore to develop 20 integrated logistics parks, and commercial and residential properties in the next 3 to 4 years.


"We will set up 20 logistics parks across the country and develop land for real estate and commercial purposes through our demerged real estate and warehousing division TCI Developers," TCI Executive Director Vineet Agarwal told reporters here.


"The developmental value (of both the streams of projects) could be anywhere from Rs 200-300 crore, but that (the exact amount) we can come to know only after five years (once the investments are done)," he added.


Agarwal said National Capital Region, Kolkata, Pune, Ahmedabad, Mumbai, Hyderabad, Bangalore, Chennai, Indore and Nagpur are among the locations it is bullish on for the residential and commercial projects, but declined to give any specific answer when asked about the probable locations for the 20 logistics parks.


TCI has planned a capital expenditure of Rs 100-110 crore for the current fiscal year and will use Rs 20-25 crore to acquire a ship from Denmark, Rs 30-45 crore to buy trucks and Rs 30-45 crore to set up hubs, Agarwal said.

The company will increase its warehousing capacity by half a million to one million square feet this fiscal. It currently has a warehousing facility of 9.5 million square feet, of which 6.5 million square feet is owned by the firm, he added. .



Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jun 11, 2011 09:43 am
Loading...
Sections
Follow us on
Available On