MUMBAI, Dec 5: Kochi-based logistics operator Driver Logistics on Tuesday announced expansion of its operations to Karnataka and said it plans to invest Rs 525 crore over the next five years.
The company also said it is looking to increase its warehousing facilities to over 100 in the next 18 months, from 53 at present, as part of the expansion strategy and also exploring entry in overseas markets such as Thailand.
As part of this expansion, Driver Logistics unveiled its first multi-client facility as well as partial truck load operations in the state.
Karnataka is positioned as a pivotal hub for Driver Logistics, facilitating the consolidation of operations in Kerala, Tamil Nadu, Telangana, and Andhra Pradesh, the company said in a statement.
With an investment plan of Rs 525 crore over the next five years, Driver Logistics aims to revolutionise the logistics sector, it said.
The fund infusion will drive technological advancements, benefiting shippers, logistics service providers, and the local job market, Driver Logistics said.
The central government’s various initiatives such as PM GatiShakti is expected to spur exponential growth in the logistics sector and give a significant boost to companies in the third-party logistics space, said Aqil Ashique, CEO at Driver Logistics.
Beyond the national expansion, Driver Logistics is seeing the growing trade between India and South East Asian countries as a catalyst for increased demand in professional logistics services, he said.
In line with this vision, the company is exploring expansion into South East Asia, commencing with operations in Thailand, he stated.
Established in April 2019, Driver Logistics cater to over 30 clients across an extensive network of 50 warehouses in Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Maharashtra, Telangana, and Gujarat.
With an expanded fleet of over 200 vehicles and specialisation in third-party logistics, the company said its focus remains on seamless logistics solutions.
Stating that the company positions Karnataka as its gateway hub connecting South India to the rest of the nation, Driver Logistics said over the next year it plans to hire more than 150 people in the state.
The company is set to expand its footprint across Karnataka, offering warehousing, Full Truckload (FTL), and Partial Truckload (PTL) services to clients in key towns, it added. (PTI)