TCI Express announced on that its new sorting centre at Pune has become operational after receiving relevant regulatory approvals.
The 1.5 lakh sq.ft. Pune sorting centre, optimally located at Chakan, will be having 50 loading docks and will augment the Company's service in the western region. This is a new milestone for the company and will offer clear advantage in terms of operational efficiency, service reliability, higher utilization and shorter turnaround time, along with business operations expansion.
Total cost incurred for the Pune sorting centre, including purchase of land, is approx. Rs. 35-40 crores. In the next phase, company will focus on integration of automation and technological upgradation, with additional investment of Rs. 20 crores and anticipated to be completed in the later part of FY2022.
Commenting on the development, Chander Agarwal, Managing Director, said: Operationalization of a high-performance sorting centre will strengthen our market position and will create new growth opportunities for business.
The announcement was made after market hours yesterday, 9 June 2021. Shares of TCI Express rose 3.27% to settle at Rs 1,553.80 yesterday.
TCI Express is India's leading time-definite express distributor offering customized solutions for express delivery. The company's distribution network has 800 offices covering more than 40,000 locations.
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