To acquire 100 - GPS connectivity trailers to emerge as integrated logistics solutions provider
Shreyas Shipping & Logistics Limited (BSE: 520151), a multi-modal, integrated logistics & shipping solutions provider, today announced that the company through its wholly owned subsidiary Shreyas Relay Systems Limited (SRS) has signed a Memorandum of Understanding with Tata Motors for acquisition of 50 trailers. Company plans to invest Rs. 17 crore at regular intervals for acquiring 50 trailers. The Company mentioned that this is a part of plan to acquire 100 such trailers soon to emerge as India’s preferred integrated logistics solutions provider.
The trailers to be acquired by Tata Motors are new age vehicles with cutting-edge technologies. The fleets of trailers have GPS connectivity, providing real time information to the clients about cargo, container and other key aspects.
Besides this, Shreyas has also sealed an agreement for a warehouse and domestic cargo distribution center at Tuticorin. The facility at Tuticorin will be operational within the next few weeks. Shreyas Shipping & Logistics Limited has also firmed up plans for establishing similar facilities at Mundra and Cochin almost immediately.
Shreyas, through the acquisition of trailers along with establishing warehouse and domestic cargo distribution centers at strategic locations, is supporting its forward integration initiatives with a vision of offering end-to-end logistics solutions to its customers.
Commenting on the occasion, Mr S. Ramakrishnan, Chairman & Managing Director, Shreyas Shipping & Logistics Ltd said, “This is in-line with our long term vision of being the most reliable, integrated logistics solutions provider in the country. Tata Motors, a hallmark of reliability itself, is a perfect fit as our partner towards this. We look forward to a sustained relationship with one of India’s most respected companies.”