Expanding warehouse capacity in 6 states
Agri-logistics firm Shree Shubham Logistics is expanding its footprints by adding around 350,000 tons of capacity to its warehouses in six states, including Uttar Pradesh, Delhi, Kerala and Andhra Pradesh.
The company is investing 2 billion ( US$ 33 million) to expand its warehousing portfolio across the country in 2015. The company already has 600,000 tons of warehousing capacity in Rajasthan, Gujarat, Maharashtra and Madhya Pradesh states.
Aditya Bafna, Shree Shubham Logistics promoter and Executive Director said, "We will be entering the southern states for the first time."
According to Nabard, the demand-supply gap within warehousing is estimated to increase from 12.04 million tons in 2013 to 12.30 million tons in this year.
Among that gap, six million tons would be in eight states led by Uttar Pradesh having shortfall of 1.78 million tons.
Bafna further said adding that at least 120 million ($1.99 million) investment is needed to set up a five-acre warehousing facility that can store about 20,000 tons.