Breaking News

You are here » Indian-Commodity  :  Corporate  :  Transport Corporation to invest Rs 150 crore for expansion


Transport Corporation to invest Rs 150 crore for expansion

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.


Related News

View all news

Canadian Crown Corporation selects Hinduja Global's arm to deploy technical support solution

Hinduja Global Solutions' subsidiary -- HGS Canada -- has been selected to deploy and manage a multi-channel customer care and technical support solution for a Canadian Crown Corporation, beginning in......

Inox Wind bags 100 MW order from OSTRO Energy

Inox Wind, India's leading wind energy solutions provider has bagged an order for a 100 MW wind power project at Lahori, in the state of Madhya Pradesh from Ostro Energy. The company will supply and install......

Government of India to infuse Rs 947 crore in Canara Bank

Government of India (GOI) has decided to infuse equity capital of Rs 947 crore in Canara Bank. The board of the bank at a meeting held on August 31, 2015 has approved the proposal of issuing equity shares......

Top News

View all news

HDFC Bank, ITC, Infosys and Syngene International to see some action

HDFC Bank, India's second largest private bank, cut its base rate by 35 basis points to 9.35%, from the existing 9.70 percent, thereby making loans from the bank cheaper. Earlier in June, the bank had......

RBI governor finally buzzes to the demand, hints at rate cut

Reserve Bank of India (RBI) Governor Raghuram Rajan finally hinting for a rate cut has said that inflation has come down to the comfort zone quicker than expected and he is keeping a watch on......

RIL, ONGC and Lupin to see some action

Reliance Industries (RIL), owner of the world's biggest refining complex, imported nearly 25 percent more oil in July compared with the previous month, when it had slowed purchases due to a planned maintenance......