The Hindu Business Line : TCI lines up Rs 450-cr investment

Transport Corporation of India (TCI), which registered a turnover of Rs 272.79 crore in the quarter ended September 30, has lined up investments to the tune of Rs 450 crore in the next four years.

Addressing a press conference here on Monday, Mr Vineet Agarwal, Executive Director of TCI, said the turnover in the second quarter grew by 26 per cent over Rs 216.86 crore registered in the same period last year. The net profit was put at Rs 6.54 crore (Rs 4.95 crore).

The company registered a turnover of Rs 516.17 crore (Rs 415.06 crore) in the first half. The net profit was put at Rs 13.13 crore (Rs 10.03 crore), showing an increase of 31 per cent.

Talking on the Rs 450-crore investment plan, Mr Agarwal said Rs 150 crore would go into the development of five latest warehouses, each having two lakh square feet of space.

"These will come up in Gurgaon, Pune, Bangalore, Nagpur and Kolkata," Mr Agarwal said.

The company would invest Rs 125 crore on additional trucks, Rs 100 crore on ships and Rs 50 crore on wind power facilities.

"We will acquire one ship every year in the next four years," he said.

Hive-off plan

The company has decided to hive off its trading division. "The process is underway. We have roped in external auditors for valuation," he said.

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