Jassper Shipping lines up $50-million investment

City-based Jassper Shipping, a global cargo logistics company, said it will invest up to $50 million (nearly Rs450 crore) over the next three years to expand its services across India, the Gulf region and other international markets.

India is going through a long phase of building new infrastructure, expanding factories and growing its farm and trade sectors. All of this creates big opportunities for a company like ours that moves cargo of every kind, whether it is heavy machinery for a power plant, cement for a highway, or fertilisers and food grains for farmers. Our investment will help build the scale and capability to serve this growing demand, said Pushpank Kaushik, CEO of the company and Head of Business Development (Subcontinent, Middle East and Southeast Asia). The investment will be made in stages by the company’s promoters and is subject to market conditions, regulatory and board approvals. It comes at a time when India is rapidly building new infrastructure and expanding its farming, manufacturing and trade sectors, all of which need goods and materials moved safely from factories, farms and ports to the places where they are needed.

In the first phase, the company will spend $10 million (nearly Rs90 crore) to strengthen its cargo-moving business across a wide range of sectors power, steel, cement, agriculture, fertilisers, petrochemicals, construction materials, heavy engineering, manufacturing and large infrastructure projects.

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