IFC loan for agri-logistics firm SLCM

IFC, a member of the World Bank Group, has agreed to provide a $3 million loan to SLCM, the Yangon-based subsidiary of Sohan Lal Commodity Management, a Delhi-based agri­ logistics group. The loan is aimed at supporting the company to expand its warehousing services and allied services in Myanmar. “We have replicated our best practices and expertise in agriculture warehousing domain in Myanmar. In the past five years, we have been able to reduce post-harvest losses to 0.5 percent in the country, thus helping every player in the farm-to-market chain. We intend…

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WebCargo acquires Air Freight Bazaar

Chennai-based air freight rate and sales platform Air Freight Bazaar has been acquired by WebCargo. Hong Kong headquartered, Freightos, the parental firm of WebCargo is currently creating an international freight marketplace and Air Freight Bazaar’s acquisition is meant to enhance its presence in India considering the gradual growth of air cargo in the country. Indian airports, Mumbai and Chennai,  figure in the top 10 fastest growing air cargo hubs in the world today. “In terms of global cargo, India is far beyond the stage of a developing country. It is…

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JSL Lifestyle gets a new CEO

JSL Lifestyle, a subsidiary of Jindal Stainless, has appointed Mandeep Singh as its Chief Executive Officer (CEO) of the company. Singh, a seasoned management professional with over 28 years of experience in providing strategic direction to leading global and local brands, will be providing strategic and marketing leadership for various business verticals of JSLL, including tableware & home décor, bespoke kitchens, sanitation solutions, commercial kitchens, infrastructure, railways, Original Equipment Manufacturing (OEM) businesses, and plumbing solutions in his new role. In this capacity, he will also be responsible for charting growth strategies…

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NTPC’s installed capacity crosses 55 GW

Domestic public sector power giant NTPC has pushed its installed capacity to over 55 GW mark with the recent commissioning of 1st Unit of 800 MW of Gadarwara Super Thermal Power Project (2×800 MW). The Gadarwara Supercritical coal based power project is located in Madhya Pradesh. NTPC group, including its joint ventures and subsidiaries, currently operates 52 stations based on Coal, Gas/Liquid Fuel, Solar, Hydro and Wind energy. NTPC is targeting to achieve total installed capacity of 130 GW by 2032. Recently, NTPC’s Vindhyachal Super Thermal Power Station also set…

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Adani Logistics acquires Innovative B2B

Last Thursday, Adani Logistics – the wholly owned subsidiary of Adani Ports and SEZ , announced acquisition of Innovative B2B Logistics Solutions which has strong clientle base in the metal industry primarily providing them services in the Eastern and Northern hinterland. B2B Logistics has been bought from the private equity firm True North valued at Rs 43.2 crore. The transaction will be completed by the end of the first quarter of FY 19-20.   Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, “With this acquisition, ALL will…

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FSC to provide contract logistics services to fashion brand

Future Supply Chains Solutions (FSC), the logistics arm of retail major Future Group, has bagged a major multi-year contract from the noted fashion brand Benetton India.  to provide contract and express logistics services. As part of the deal, FSC will manage Benetton India’s supply chain requirements through their multi-customer distribution center. “We have been entrusted to manage their supply chain  requirements in India and driven by our extensive experience in the fashion & lifestyle category, we aim to bring several supply chain efficiencies leading to better inventory management and optimum…

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Honda exclusive dealership network touches four-digit mark

Honda Motorcycle & Scooter India (HMSI), the company which is credited to have revolutionized automated scooter business in the country, notched a major distinction recently when it opened its 1000th HEAD (Honda Exclusive Authorized Dealer) facility at Platinum Honda, Zirakpur (District Mohali), Punjab. The company has been on a major network expansion spree in the last five years adding a staggering 3300 new touch-points across the country. Commenting on the milestone,. Minoru Kato – President & CEO, Honda Motorcycle & Scooter India said, “Honda also fulfilled its commitment of providing…

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Delhivery raises more than $400 million

Gurgaon headquartered logistics technology firm Delhivery has confirmed raising more than $400 million in a fresh funding round supported by SoftBank Vision Fund. The other notable investors in the company, Carlyle and Fosun, also participated in this round. The staggering fresh funding support to the company is slated to give a major boost to the massive expansion drive of the company. The company in a statement maintained that with fresh funding support, the company will expand its pincode coverage from 15,000 to 20,000 by the end of the first quarter…

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DP World reports 20 percent revenue growth

Global port terminals and logistics giant DP World has recently announced strong financial results for the year ending on December 31, 2018. The revenue of the company shot up to $5.6 billion which marks an impressive 19.8 percent growth. The profit margin went up by 5.1 percent at $1,270 million. The staggering growth in revenue has been driven by acquisition of Drydocks World, Dubai Maritime City (DMC), Cosmos Agencia Maritima, Continental Warehousing Corporation (CWC)and Santos consolidation. Like-for-like revenue increased by 4.2% driven by a 6.3% increase in total containerized revenue.…

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Dachser India receives AEO certification

Dachser India, the Indian subsidiary of German logistics major Dachser, has received Authorised Economic Operator (AEO) certification which is slated to give a major boost to its international operations from the country. The certification granted by the Central Board of Indirect Taxes and Customs (CBIC) validates its positioning as a trustworthy and financially sound business partner for international shipment. “Achieving the AEO status after going through the exceptionally stringent review process is an incredible accomplishment for the entire Dachser India team. This endorses our goal to provide highly secure and reliable services…

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