The Singapore-based supply chain services provider YCH Group would invest close to Rs 1,200 crore over the next five years for enhancing its presence in India, a top official of the company said here.
The company engaged in end-to-end supply chain management for the last 50 years would set up 12 more green warehouse facilities at Rs 1,200 crore, YCH Group Chairman and CEO Robert Yap told reporters at the inauguration of their first greenhouse facility at SIPCOT-SEZ in Sriperumbudur near here.
The green house status to the facility was given by the Indian Green Building Council.
The Chennai facility set up at an investment of Rs 100 crore would predominantly cater to YCH Group's customers like Dell, Motorola, among others, he said.
To a query, he said it would also cater to the auto-component industry considering the opportunities available in automotive sector with Chennai being considered as 'Detroit' of Asia.
The Chennai facility spread across 5.25 lakh square feet, has a total installed capacity of 50,000 pallets and the other facilities would also have similar capacities.
Declining to divulge their group's turnover, he said they were expecting revenue of Rs 500 crore over the next three years from their Indian operations.
On the Free Trade Agreement signed between India and ASEAN Countries in 2008, Yap said the agreement would only increase the market potential for India. "However there are positive things for us," he said.
On their employee strength, YCH Logistics India CEO Balaji V said the Chennai facility would have around 300 people, (mainly from the neighbourhood). "However, once other facilities start operations then we would double it," he said.
The facility was formally inaugurated by Singapore Foreign Affairs Minister George Yeo.
