DHL to invest $10 mn in warehousing in India over 12 months

DHL to invest $10 mn in warehousing in India over 12 months
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First Published: Tue, Oct 06 2009. 08 48 PM IST
Updated: Tue, Oct 06 2009. 08 48 PM IST
Mumbai: Global logistics company DHL International GmbH, will invest $10 million in India over the next 12 months to set up temperature controlled warehousing facilities for life science products.
The Germany-based firm, which currently has 2.5 million sq ft of warehousing space in India, will also consolidate this business in anticipation of a centrally administered goods and services tax (GST) expected to come into force 1 April.
Frank Appel, chief executive officer and chairman of Deutsche Post DHL which owns DHL, said the company will spend a total of $15 million in setting up temperature controlled warehouses for life science products in Mumbai, Hyderabad and Singapore.
“India and Singapore are key manufacturing locations for ethical and generic pharmaceuticals that are distributed across the world. Increasingly, they will also be key markets for consumption,” Appel said in Mumbai on Tuesday.
“We have warehouses at 141 locations. We are aiming at shrinking warehouses by at least 20% with GST coming,” Paul Harry Graham, chief executive officer (Asia Pacific) of DHL Exel Supply Chain, told Mint. However, the firm will increase its overall warehousing space by building larger facilities, he said.
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First Published: Tue, Oct 06 2009. 08 48 PM IST
More Topics: DHL | Investment | Warehousing | Life Sciences | India |