Driver Logistics plans to invest 525 cr in next 5 years

Kochi-based logistics company Driver Logistics announced a Rs 525 crore investment plan over the next five years, 30 per cent of which (over Rs 150 crores) will be invested in Karnataka. The Karnataka project includes a 32,000 square feet multi-client warehouse and partial truckload facility (PTL) at Makali in Bengaluru along with seven smaller hubs spread across the state in the next 6 months.

Karnataka, which contributes over 35 per cent of the company’s overall business (its largest market) will also see an additional 1 million sq feet of third-party logistics (3PL) – grade A warehouse – from the company, taking its overall presence to 1.5 million square feet in the next five years, company’s chief executive officer Aqil Ashique told DH. This will be a part of the 5 million sq ft expansion that the company is eyeing across the country in the next five years. Currently, it has over four lakh sq ft of grade A warehouse space in the state.