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TCI chalks out strong capex plan over three years; defers FY22 capex

The company is keen on augmenting its marine assets for coastal container cargo as it sees coastal shipping growth to 215 million tonne by 2025 from about 86 million tonne now

Aditi Divekar Mumbai

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Photo: Bloomberg

3 min read Last Updated : Dec 09 2021 | 10:13 AM IST

With container vessel rates having surged in the last few months, Transport Corporation of India (TCI), had to partly defer its capex plans for FY22.

“Our FY22 capex plan was aggressive for marine asset buying but had to defer those plans. Out of the Rs 225 crore capex planned, only about Rs 75-100 crore will be executed this fiscal,” Vineet Agarwal, managing director at Transport Corporation of India (TCI) told Business Standard.

At present, the company has two container vessels deployed on the west coast and four on the east with a total capacity of 77,957 deadweight tonnage.