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Ashok Leyland eyes stronger presence in logistics industry
Ashok Leyland is looking to strengthen presence in the country's logistics sector that is estimated to touch USD 370 billion by 2020. The company is enhancing its range of fully built vehicles in order to tap the sector which is expected to grow at a CAGR of 16%. The Chennai-based firm, which is the second largest commercial vehicle manufacturer in the country, has around 45% share in the truck segment in t ...
IWAI raises INR 340 cr through infrastructure bonds
The Inland Waterways Authority of India (IWAI) has raised INR 340 crore through its maiden bond issue from the market. The fully serviced government of India bonds were privately placed with banks and financial institutions on March 1, 2017. The Finance Minister, in his Budget speech 2016-17, had announced mobilization of extra budgetary resources through issuance of bonds to support infrastructure projects. ...
BlackBuck raises nearly INR 476 cr from Sands Capital and existing investors
BlackBuck, today announced it has raised USD 70 million (approximately INR 476 cr) in a Series C funding from Sands Capital and existing investors. The latest round of funding will be invested in building technology-led products for the freight industry to bring out efficiencies for, both, customers and truckers. The company said in a statement here, It will also use the funds to scale up operations. BlackBuck ...
Amazon sets sights on launching air cargo services in China
Amazon Logistics is targeting China-based sellers, who offer products through Amazon or other businesses, as potential customers for its international air freight offering. "We currently are developing (air freight) service, and plan to quickly introduce it to a large number of our sellers," Amazon Logistics' website said. The company already offers one-stop ocean freight services. Amazon Logistic ...
Parliamentary panel for regulator in container logistics space
The Department-related Parliamentary Standing Committee on Transport Tourism and Culture on Shipping Ministry has called for a high powered inter-ministerial group to take policy decisions on internal trade and a high-powered regulator for managing the entire area of container logistics. The committee stated in the report, “The entire container trade is being controlled by overseas MNCs resulting in high oper ...
Aviation sector to become part of Multi-Modal Logistics hubs
Road Transport and Highways & Shipping Minister Nitin Gadkari said that Aviation sector will now be a part of multi-modal logistics hubs in India to promote holistic logistics solutions. At present highways, ports, inland waterways and railways are part of the planned multi-modal logistics hubs in India. The new plan projects the logistics sector to grow to USD 360 billion by 2032 from the present USD 115 b ...
Govt. will launch an Integrated Transport and Logistics Policy
Road Transport and Highways & Shipping Minister Nitin Gadkari has said, the Government will launch an integrated transport and logistics policy aimed at increasing the average freight speed on highways to 50 kilometer (km) per hour and cutting costs by half. Gadkari added that “The plan includes construction of 50 economic corridors, 35 logistics parks and 10 intermodal stations at a cost of INR 5 lakh cr ...
Nittsu Logistics opens warehouse in Sri City
Nittsu Logistics (India), a wholly-owned subsidiary of Nippon Express Company Limited, has inaugurated its warehouse in Sri City. Yasunori Takahashi, Managing Executive Officer, and Regional General Manager of Nippon Express South Asia & Oceania, along with Seiji Baba, Consul General of Japan in Chennai, commissioned the warehouse. Takahashi in a statement said while increasing the company's presence in ...
Shipping Ministry identifies 415 projects worth INR 8 lakh crore under Sagarmala Programme
Shipping Ministry has identified around 415 projects, at an estimated investment of approximately INR 8 Lakhs crore across port modernization & new port development, port connectivity enhancement, port-linked industrialization and coastal community development for phase wise implementation over the period 2015 to 2035. As per the approved implementation plan of Sagarmala Programme, these projects are to be take ...
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