Aqua Logistics Ltd (ALL), India’s foremost global logistics and supply chain partner providing end-to-end solution in the logistics and supply chain domain, today announced that the company has received an order worth Rs 100 crore from Gammon India Ltd. The order entails managing the logistics and transportation of aggregates from Gammon India’s quarries in Bihar. The order for management of logistics on the National Highway 77 has to be executed over a period of 12 months.
Being the largest logistics order won by an Indian company, the win is significant both in terms of size and in terms of the increasing awareness among leading Indian companies with pan-India presence to outsource their supply chain logistics.
On receiving the order, Mr. M S Sayyad, Vice-Chairman, ALL said that “This win further reinstates our belief that Indian companies are increasingly looking at outsourcing their supply chain logistics to identify and remove inefficiencies at all levels of transportation. Our customer centric and cost optimization approach not only helps us in designing solutions as per customer requirements but also reduce transportation costs, which form a significant portion of corporate capex plans.”
Recently, the board of directors of the company approved a proposal to raise funds to the extent of $70 million by way of issue of ADR / GDR / QIP / FCCB or through any other mode of securities or its equivalent sum of Indian Rupees in one or more tranches.
The company completed acquisition of three Hong Kong-based companies - CIT Logistics, TAG Logistics and AGI Logistics through its wholly-owned subsidiary Aqua Logistics HK. Aqua Logistics has initially acquired a majority stake of 60% shareholding in the three companies for a total consideration of $7.09 million. Aqua will acquire additional 15% equity stake spread over a 5-year period.
About Aqua Logistics Ltd
(BSE:533159,NSE:AQUA, Bloomberg:AQUA@IN,Reuters:AQUA.BO)
Aqua Logistics Ltd is a third party logistics service provider (3PL) delivering end-to-end solution in the logistics and supply chain domain to its customers. It provides supply chain consulting, logistics execution and project logistics. Established in 1999 and headquartered in Mumbai, Aqua Logistics is India’s foremost global logistics and supply chain partner, delivering excellence across industries, through an integration of empowered people, processes and technology. The company operates in the area of multimodal transportation, contract logistics, regulatory compliance, warehousing, value added services and project logistics. It has wide presence across the country covering all the major cities such as Mumbai, Chennai, Delhi, Bangalore, Ludhiana, Baroda, Cochin and Pune while its international operations are supported by third-party logistics (3PL) partners and vendors.