Sunday, January 10, 2010: 07:49:17 PM

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DRS Logistics plans foray into south

Delhi-based logistics solutions provider DRS Logistics plans to extend its reach into southern states. The company is embarking on a Rs 450-crore expansion that envisages construction of warehousing facilities in the south by the end of the next financial year.

The company currently operates 1.5 million sq ft of warehousing space in cities like Gurgaon, Khajuri, Palwal and Ambala in the north through an SPV DRS Warehousing North. Merrill Lynch has a 55% holding in the JV.



For its foray into south, the company proposes to float a special purpose vehicle (SPV) - DRS Warehousing South - in which the prospective PE investor will hold 50% while DRS will invest the rest by way of land.

The company has already acquired 72 acre, of the required 100 acre for the expansion.

According to company sources, the proposed warehousing facilities in south India will primarily cater to the retail industry offering both rental and 3PL services.

The company would expand its warehousing business to cities like Jaipur and Chandigarh, with an addition of 1 million sft, in the next two years with an investment of Rs 250 crore.

On the fleet front, the company plans to add 200-250 trucks each year starting March 2010. Currently, it has a fleet of 850 trucks.

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