Business Daily from THE HINDU group of publications
Friday, Feb 08, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Feb 08, 2008 ePaper | Mobile/PDA Version |
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Logistics
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Shipping Shreyas Shipping capex at Rs 155 cr Mumbai, Feb. 7 Shreyas Shipping and Logistics's capex is likely to be at least Rs 155 crore for the financial year 2008-09, said the Executive Director of the company, Mr Anil Devli. Speaking to newspersons on the sidelines of a CII summit called `Indian Maritime Summit-2008', Mr Devli said, "We are working out budgets right now but we expect our 2008-09 capex to be at least 70 per cent of our 2007- 08 capex." The money will be deployed entirely for fleet expansion, he added. Shreyas' capex for the fiscal year 2007-08 was around Rs 222 crore. It plans to acquire at least two vessels this fiscal adding to its current fleet size of eight vessels. One of it is due for delivery in July this year, he said. Among other plans, the company is also looking to enter third-party warehousing, contract logistics, and the road transport business. "We are planning pan-India road transport operations for which we will acquire trucks and container carriers," Mr Devli said. - Our Bureau
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