In a bid to meet the demand from multi-brand retail, Transport Corporation of India (TCI) is planning to invest Rs 150 crore to expand its infrastructure and services. Of total, the company will spend about Rs 70 crore on setting up new warehouses across the country while, it will invest Rs 40 crore on buying new trucks. Further, Rs 25 crore will be invested on buying a new ship.
The company will be investing the same as multi-brand retail sector is expected to grow rapidly following the government move to allow foreign direct investment in the sector, although the impact of FDI in multi-brand retail will be visible only after 5-6 years.
At present, TCI's 40-45% revenues come from freight, while supply chain, express cargo and seaways divisions account for the rest.
TCI is the flagship company of TCI Group and provides full truck load and less than full truck load transportation to a network of over 3000 destinations in India.