FM Logistic to invest $150 million in India for strategic growth
FM Logistic plans to invest $150 million over five years as part of its strategy to grow in India. Jean
Christophe Machet, Global CEO, FM Logistic, says, “India is one of the key strategic markets for FM Logistic. The company is planning to make strategic investments in India to support its long-term growth. We expect a very strong double-digit growth in India in FY 2019-20. Overall, the company’s activities in India have been growing by an average of 25 per cent year-on-year for the past 10 years.” FM Logistic has also acquired 31 acres of land in Jhajjar, near Gurugram. The construction activities will start in the coming months. The Jhajjar Multi-client Facility (MCF), the second in the NCR region, will offer 700,000 sqft of warehousing space and will store close to 100,000 pallet positions once fully constructed. With these new projects, the company aims to create 500 jobs in the next 12 months. FM Logistic in India has also invested in the digitalisation of its various functions, notably in warehouse management and transport management systems that offer a high-quality service and real-time visibility to customers. “The company plans to strengthen its position in India by delivering on its post-GST strategy of focusing on developing MCF in the most important Indian economic zones. The successful opening of its first MCF in Mumbai will be followed by another in Delhi-NCR, which is expected to commence operations from April 2019,” says Machet.