Gati aims Rs 1,000 crore by 2009

New Delhi, Apr 30 (UNI) Logistics company Gati today said it targets to raise its turnover by 150 per cent to Rs 1,000 crore by June 2009.

''We aim to raise the turnover to Rs 1,000 crore by June 2009, up from Rs 400 crore in 2006-07,'' Chief Executive Officer and Managing Director Mahendra Agarwal said here today.

Talking about the tie-up with Indian, Mr Agarwal said both the companies will be utilising the existing infrastructure.

The company has expanded into warehousing by investing Rs 200 crore in upgradation of the mechantronic warehouse, he said.

''There will be a special team designated to work for this tie-up,'' said Indian Commercial Director Anita Khurana.

Gati has also formed a joint venture with Indian (Airlines) called IC Zipp to develop express courier and logistics services in India.

Gati also has plans to enter the cold chain business in the near future, said Mr Agarwal.

The Indian courier industry is worth Rs 3,000 crore with almost 2,300 companies competing to cut a pie in this share.

UNI