Post Date : September 3, 2019
TCI Express has officially announced two new one-of-its-kind automated sorting centre at Gurugram and Pune. The new 2 lakh sq.ft. sorting centre at Gurugram will be located at Farukhnagar and 1.5 lakh sq.ft. sorting centre at Pune will be located at Chakan. The construction is expected to be completed by end of the current fiscal year and operations are anticipated to begin from Q1 FY2021.
The two automated sorting centre align with strategic objectives of TCI Express and will also create ample opportunities for investment in complete automation and implementation of business intelligent tools which will result in direct cost reduction benefits, shorter turnaround time and enhanced operational efficiencies in the long run.
Chander Agarwal, Managing Director, commenting on the announcement, said: “These new centres will boast state of the art IT Infrastructure and complete automation which will further improve our turnaround time, reduce direct cost and generate higher operational efficiencies. The target capital expenditure outlay for the year has been revised to Rs. 80 crore, which will essentially be utilized towards construction and IT infrastructure. The investment in two new automated sorting centres will generate new growth opportunities for business and create value for all our stakeholders in the long run.”
Considering the recent developments, TCI Express have revised their expected Capex expenditure target for the fiscal year to INR 80 crore compared to previously envisaged INR 60 crore. This Capex will be primarily utilized for construction, automation and IT infrastructure development for the sorting centres. The entire expenditure will be funded through internal accruals.