FM Logistic India gears up to add 40 lakh sq ft of warehousing space
Warehousing and logistics sectors are going to emerge stronger in the post-pandemic era. With online shopping increasing significantly, it is predicted warehouse space, logistics services and last mile delivery would be needed more than ever. Increased e-commerce activity has created a huge demand for storage space and logistics solutions.
According to reports, FM Logistic India plans to add 40 lakh sq. feet of warehousing space under its operations over the next three years and aims to log 35 per cent growth year-on-year during this period. The Pune based company is a part of the contract logistics provider FM Logistic, had last year announced setting up of a 31-acre multi-client logistics facility at an investment of USD 30 million, which is expected to be completed by this year end.
This project is part of the company's plans to invest USD 150 million in the next five years in setting up warehouses in India, announced in March last year. The French 3PL (third party logistics) player forayed into the domestic market after acquiring Pune-based warehousing firm, Spear Logistics in 2016.
Presently, the country has 55 lakh sq. ft. of warehousing space under operations. And, they are planning to have another 40 lakh sq ft over the next three years. Henceforth, by the end of the year, FM logistic India will have around 1 crore sq ft of warehousing space under operations