Trucking giant Transport Corporation of India is moving into the cold chain logistics business in order to tap into rapidly growing demand for refrigerated cargo services in the country.
The company opened a 250,000-square-foot temperature-controlled warehouse and distribution center at Gurgaon, a major industrial and manufacturing point near Delhi, and said it plans to develop a chain of cold storage facilities across the country over the next five years.“This warehouse is one more step towards continuous commitment to our clients. Our plan is to build a nationwide cold chain logistics network comprising five large-scale cold storage facilities by 2020,” TCI group managing director Vineet Agarwal said in a statement. The new site, which features advanced warehouse management and distribution systems, can store up to 5,000 pallets. Its operations will be managed by TCI Group’s "supply chain solutions" division, according to the statement.
Gurgaon-based TCI currently has a fleet of more than 9,000 trucks, four cargo ships for coastal operations, 10.5 million square feet of warehouse space and eight fulfillment centers. TCI’s entry into the cold storage market follows on the heels of Kerry Logistics acquiring a majority stake in Chennai-based Indev Logistics in an attempt to consolidate its presence in the country. The Hong Kong-based third-party logistics provider is looking to invest about Rs. 1,000 crore (approximately $150 million) in warehousing and cold storage infrastructure in India over the next two years.