Blue Dart earmarks Rs 100-crore capex
News Clip : Business Standard, Bangalore
08th November, 2008.
Logistics major Blue Dart Express has earmarked Rs 100 crore as capital expenditure (capex) for the financial year 2009-10, a majority of which would be used to upgrade infrastructure. The company will also acquire a Boeing 757 freighter this year.
The investments will be used to develop company's existing facilities, technology, improve warehousing capabilities and other infrastructure. Blue Dart will also increase its headcount from 7,000 personnel at present, MD, Blue Dart Express, Anil Khanna said. He, however, did not disclose the additional number of personnel the company would be recruiting.
The Rs 100-crore would be raised through internal accruals. The investment is a part of an earlier plan involving investments of Rs 1,000 crore over the next 5-7 years. About 60 per cent of the total investment would be spent on aviation services and the rest on infrastructure facilities and technological upgradation.
The company has begun co-branding of its services with DHL, which holds 81 per cent stake in Blue Dart. The co-branding exercise will give both the companies presence over 350 retail outlets across the country.
Meanwhile, Blue Dart is also planning to acquire another Boeing 757 freighter increasing its total number of cargo planes to seven. The aircraft would be taken on lease and would be operated on one its existing routes.
The acquisition will be made from the Rs 200 crore, the company had earmarked for the current financial year.
However, the route on which the aircraft would fly is yet to be decided. "One of our existing aircraft will go for overhaul and repairing and the new plane will be used on this route," Marketing head of Blue Dart Express Ketan Kulkarni saild.