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. .Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
