Gati to invest 1,000 cr in renewable energy
Gati Infrastructure, a part of city-based logistics major Gati Group, is looking to invest Rs 1,000 crore in renewable energy space, covering solar, wind and hydel sectors, across the country.
To enter ecommerce space with focus on niche products
Hyderabad: Gati Infrastructure, a part of city-based logistics major Gati Group, is looking to invest Rs 1,000 crore in renewable energy space, covering solar, wind and hydel sectors, across the country.
“The company has already invested over Rs 1,000 crore in this sector and now we are in the process of investing another 100 million pounds (nearly Rs 1,000 crore) which will go into setting up of solar and hyder power plants in the country.
The funds will be raised from foreign investors,” Meera Madhusudhan Singh, Director, Gati Infrastructure, told media here on Tuesday. Ms Singh is also the Chief Brand Custodian of logistics company Gati Ltd.
Currently, the company has one hydro-electric plant under operation and two under various stages of development in Sikkim. “We have inaugurated 110 MW hydel power plant two years back. Two more plants - 71 MW and 82 MW respectively– are under development,” she said, adding that the company will also focus on solar energy.
“We are in talks with solar plant developers to go for outright buyout. We will also go for solar projects which are not doing well,” she further said. Gati Infrastructure has been in renewable energy space for the past 10 years and going forward, it will focus on solar as well as hydel energy, which, according to her, will offer immense growth opportunities.
Ms Singh also said Gati would soon enter into ecommerce space with focus on niche and exotic products. “We will set up a separate company independent from the listed entity to handle the ecommerce business. We will focus on niche products with geographical indication status such as haleem, and market them globally,” she said.
Meanwhile, Gati has launched mobile application for its logistics customers. The app will allow its customers to track shipment as well as calculate shipping time and rate to a desired destination. It will help them locate nearest Gati office. The company has also revamped its website in tune with changing times.
“The launch of new website and mobile app is reiterating our commitment to our consumers who are embracing technology like never before,” she said. Besides, Gati is also gearing up to invest Rs 100 crore in cold storage logistics.
“This is growing business for us and we have invested Rs 120 crore till date on warehousing facilities and cold storage trucks. We will keep investing in this space,” Ms Singh said. Gati forayed into cold storage logistics a few years ago when it bought Delhi-based cold chain company Kausar (India) Ltd and had been investing in the business since then.