Third-party logistics company FM Logistic is planning to double its warehousing space to 1.2 crore sq ft in three to four years from 60 lakh sq ft.
With its plans to set up A-grade facilities in all metro cities and dynamic economic areas, especially multi-customer units, and focus on urban logistics, FM Logistic looks to attain leadership position in the sector.
In March 2019, FM Logistic had outlined its plans to invest USD 150 million over the next five years to set up new warehouses in India, with focus on multi-client warehouses.
The company has already announced its plans to add 40 lakh sq ft warehousing space in the next three years that will take its total space to one crore sq ft, and it could add another 20 lakh sq ft.
The company has added a total of 10 lakh sq ft space in the last six months, all for multi-customers facilities, including omnichannel, pharma, e-groceries, FMCG, food, industrial, among others.
FM Logistic plans to have multi-customer facilities in Bengaluru, Delhi, Kolkata, Hyderabad and Chennai in the next two-three years. The company is expected to soon commence operations at its Bhiwandi facility in Maharashtra, which is spread in four lakh sq ft space with a part of it dedicated for pharma clients.
The upcoming state-of-the-art warehousing facility at Jhajjar in Haryana will also be operational in Q2/2021. Earlier in December 2020, FM Logistic had signed a strategic partnership with Welspun Logistic Park to develop nine lakh sq feet space in Bhiwandi in the next three years.
The company has added 1,000 people in the last six months, taking its total headcount to 6,000 from 2,500 in 2016. Many of the projects are part of the Rs 1,200 crore investment plan announced by the company in March 2019.
The company has already consumed Rs 200 crore of this. The pending Rs 1,000 crore is still available for creating state-of the art A-grade facilities in all metro cities and dynamic economic areas of the country.
Besides, it will also be used for intra-city logistics facilities, IT system as well as automation.