TCI in talks to rope in partner in China

Our Corporate Bureau

Mumbai, Aug 10: Transport Corporation of India (TCI) is in an advanced stage of talks to rope in an alliance partner in China.
TCI’s move will help it cash in on the large Indo-Chinese trade opportunities following the lifting of the quantitative restrictions, TCI, managing director, Vineet Agarwal said.

“The alliance will be without any equity stake and would only be a simple transaction alliance. It would be inked in the next six months,” Mr Agarwal said.

However, an investment in information technology and training of manpower in the respective countries cannot be ruled out, Mr Agarwal added.

The company is also in talks with companies in Pakistan and Sri Lanka for similar alliances. The company already has similar alliances with companies in Bangladesh and Dubai.

The company already holds a 49 per cent equity stake in Transystem Logistics International Ltd to provide automotive logistics solutions with Mitsui & Co of Japan to provide automotive logistics solutions for Toyota.

TCI, which is targeting a turnover of Rs 1,000 crore by 2003, expects these international alliances to contribute around five per cent to the topline, Mr Agarwal said. TCI is an integrated logistics service provider serving 3,000 destinations with its fleet of 2,500 trucks.