Blue Dart to invest Rs1,000 cr on expansion in 5-8 years

Blue Dart to invest Rs1,000 cr on expansion in 5-8 years
PTI
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First Published: Tue, Sep 11 2007. 04 19 PM IST
Updated: Tue, Sep 11 2007. 04 19 PM IST
New Delhi: Integrated express courier and package distribution firm Blue Dart Express Ltd on 11 September said it plans to invest about Rs1,000 crore in the next five to eight years to expand its infrastructure and ground services.
“The company would invest Rs1,000 crore over the next five to eight years to expand its aircraft fleet, add material handling equipment and ramp up ground handling facilities” Blue Dart Managing Director Anil Khanna told reporters here.
Blue Dart also launched a new ground express service ‘Surfaceline´, which would expand its coverage to 17,500 locations from 14,600 locations at present.
“The company has a market share of 5.8% in the ground segment but aims to take it to 20% in the next five to eight years to achieve market leadership in the express industry,” Khanna said.
The company’s expansion plan would be funded through internal accruals, he added.
“The Tier-I and Tier-II cities offer increasing opportunities for Blue Dart’s surfaceline. The growth of organised retail in the country, emergence of SEZs, IT parks also provide prospects for our new service,” he said.
The company also plans to open 58 new warehouses across the country by 2010.
“The company has already invested Rs22 crore in infrastructure building this year,” Blue Dart Senior Vice President Tulsi Mirchandaney said.
Blue Dart is a part of the DHL group and currently has a 41.7% market share in domestic air express segment.
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First Published: Tue, Sep 11 2007. 04 19 PM IST