Developed on 1.25 million square feet land, the logistics facility to serve as a nodal point for South India.
Recommended ArticlesView All
Decoding multi-year health insurance policy — What is it and what are key benefits?
IST3 Min(s) Read
View | Pakistan Election: Will Imran Khan's changed tack from long march to resignations to snap poll work?
IST5 Min(s) Read
View | G20 Presidency: India can shape global Web3 narrative
IST6 Min(s) Read
Supply and Logistics Company Safexpress has opened it biggest facility in Bengaluru. The park, set up with an investment of Rs 100 crore and spread out over 1.2 million sqft will help the company increase its service routes in the southern part of the country.
“ We already operate out of Bangalore and will remain fairly similar to what they will be in future. The only difference is that it will allow us to , one be prepared for the next 20 years . We already run about 82 direct routes from Bangalore, this new facility will help us connect to 260 cities," said Safexpress managing director Rubal jain.
A market research report by Technavio on the third-party logistics market in India, pegs a market value of more than $31 billion by 2022 owing to tax reforms and initiatives by third party logistics service providers .
While the sector is poised for growth, logistics costs in India remains high due to external factors.
“For us the definitely the costs have gone up by at least 15-18 percent, fuel itself is up 27 percent in the last 1 year which itself consist of 50-55 percent of our costs. Rents for land have gone up, congestion, toll fees have gone up an average 15% all of which have added to the cost “says Rubal .
The company which currently has a total warehousing area of over 14 million square feet , expects to open 7 more in the next 1 year .
First Published: IST