Patel Integrated Logistics to invest Rs 80 crore to set up 10 warehouses

First warehouse being set up in Bengaluru with an investment of Rs 10 crore

Patel Integrated Logistics announced that to cash in on the just rolled-out goods and services tax, which is very positive for the logistics sector, the Company will invest around Rs.80 crore to set up 10 warehouses together measuring over 1 million sqft in the key traffic regions.

In the first phase more such facilities will come up in Ahmedabad, Chennai, and Gurgaon this financial year itself, while the second phase, which will begin next year, the Company plans to set up warehouses in Pune, Mumbai and Hyderabad.

 

The first warehouse is being set up in Bengaluru for which the company has already taken land from the Karnataka Industrial Areas Development Board on a 99-year lease. The Company will invest around Rs 10 crore for this facility which will be ready in a few months. The company has already secured a Rs 5 crore loan from SIDBI for its Bengaluru facility. Currently, it has only one warehouse in Chennai.

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