TCI to invest Rs 300 cr 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.

"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 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.

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

The company 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 added.

The company will increase its warehousing capacity by half a million to 1 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.