Logistics

Safexpress plans Rs 300-cr investment; opens logistics park in Hyderabad

G Naga Sridhar Hyderabad | Updated on January 09, 2018

Supply chain and logistics services provider, Safexpress, has lined up a Rs 300-crore investment to set up six logistics parks across the country.

This was disclosed by its Managing Director, Rubal Jain, at a press conference held here on Friday to announce the inauguration of the company’s 32nd modern logistics park here.

"With the launch of our 4 lakh sq.ft park here, we have completed our roadmap to set up 32 parks across the country, decided five years ago,’’ he said.

The privately held company with a turnover of Rs 1,600 crore in the last financial year, is in the process of setting up six logistics parks in Bengaluru, Mumbai, Jaipur, Ludhiana, Aurangabad and Siliguri.

"This involves about Rs 300 crore investment up to 2019, which will be raised mainly from internal accruals,’’ Jain said.

When quizzed on the impact of Goods and Services Tax (GST) on logistics, he said his company was negotiating with customers on newer business models and solutions. ``Transportation costs are, however, increasing due to a spurt in diesel prices,’’ he added.

Safexpress is expecting double-digit growth in revenue in the current financial year.

Published on August 04, 2017

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