Safexpress announces Rs. 300 crore capex for 6 new logistics parks
India’s largest supply chain and logistics firm Safexpress has announced Rs 300 cr of capital expenditure plan to set up six new logistics parks. It plans to take its network of logistics parks to 38 in next two years, announced a top executive. With the higher number of parks, the company will be able to more efficiently supply goods post the Goods and Services Tax (GST), he said. According to media reports, Rubil Jain, managing director, Safexpress, said, "We had devised this plan of setting up 32 logistics parks several years back keeping GST in mind. Now, having achieved that number and implementation of GST, we will continue to open more parks to bring in efficiency in our services”. The company on Friday inaugurated its 32nd park in Hyderabad spread over an area of 4 lakh square feet. The upcoming parks will be spared on an average of 2-3 lakh sft. The new parks will come up in Mumbai, Bengaluru, Ludhiana, Aurangabad and Jaipur. The company already has a presence in Andhra Pradesh and Telangana spread over 29 locations. "The investments would be made through internal accruals and the company might go for debt funding if required,” said Jain.
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