Friday, September 15, 2006

Gati looking to set up air cargo service

Mumbai: Logistics company Gati Ltd. plans to double warehouse space to 2 million square feet by June 2008 as it strengthens its coverage in smaller but fast-growing cities, a top official said on Thursday.
The company has 10 warehouses spread across the country and plans to add eight more in the year to June 2007. The total would come to 35 in three years, Chief Executive Officer Mahendra Agarwal told Reuters.
ndian logistics firms are moving away from mega distribution centres and to regional and smaller forward stocking points, according to a report by brokerage Kotak Securities.
The Indian express logistics business is expected to grow to 62.03 billion rupees by March 2008 from 45 billion rupees now, the brokerage said in the report.
Gati is looking to set up an air cargo service in six months on its own or through a joint venture. It has a tie-up with state-run airline Indian, Agarwal said.
14/09/06 Reuters India