TCI to inject Rs 200 cr in next two years to acquire new fleet

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New Delhi, Sep 4 (UNI) Transport Corporation of India, leading integrated supply chain and logistics solutions provider, today announced plans to pump in Rs 200 crore in the company in the next two years for the purchase of ships and trucks and construction of warehouses.

'' We aim to be an Rs 20 billion organisation with the major focus on taking our supply chain solutions globally. We are also opening offices in various countries like Singapore and Hongkong. We will soon be opening an office in Europe, Hongkong and Singapore,'' TCI Vice-Chairman and Managing Director D P Agarwal told a news conference here.

Riding on the high growth of the economy, the company is targeting a Y-O-Y growth of 20 to 25 per cent in the next two years, he added at the launch of the new company's logo.

As part of its rebranding exercise, TCI has adopted a new brand line 'Moving together, growing together'.

To make investments in one single brand more efficient, the company has adopted an easy-to-understand brand architecture. It has merged all verticals under the brand TCI, he said, adding the transport and express delivery division have been renamed as TCI Freight and TCI XPS respectively.

Asked how much the company planned to invest in the rebranding exercise, Mr Agarwal skirted the question, saying,'' the amount which we are going to spend is substantial, but we will not be able to disclose it right now.'' Regarding the company's plans to make a foray into real estate, Mr Agarwal said the process had already started and ''we would be using existing property, including buildings and warehouses, for that''.

UNI GS/RL SG HS1823

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