An MoU has been signed by United Kingdom-based SRAM & MRAM Group and SpiceXpress for an investment deal according to which SRAM & MRAM Group will invest $100 million in SpiceXpress. SpiceXpress was hived off by SpiceJet into a separate entity effective April 1, 2023 paving the way for the company to raise funds independently, says an official release. “SpiceXpress is delighted to enter into a MoU with SRAM & MRAM Group for a $100 million investment into the company, ” says Ajay Singh, Chairman and Managing Director, SpiceJet. “We had recently hived off SpiceXpress into a separate company as we were extremely confident and bullish about the potential of our tech-enabled logistics business and this MoU reaffirms our belief. This investment should help SpiceXpress to further grow and expand and provide a more streamlined and efficient service to its customers.” Sailesh Lachu Hiranandani, Chairman, SRAM & MRAM Group adds: “We are pleased to join hands with SpiceXpress in its promising future and growth story. We see excellent growth opportunities in the logistics and cargo space in India. We are confident that SpiceXpress will contribute to India’s growth story. In a short time since its inception, the company has shown exceptional growth in the nascent air cargo market and we see a tremendous potential for the Company in India’s fast growing cargo and logistics market.” The MoU with SRAM & MRAM Group follows a restructuring agreement with aircraft lessor Carlyle Aviation Partner wherein the latter will pick up a stake in SpiceXpress at an anticipated future valuation of $1.5 billion (Rs 12,422 crore). https://www.stattimes.com/air-cargo/uks-sram-mram-group-to-invest-100-million-in-spicexpress-1348704

Welspun One Logistics Parks (WOLP) has successfully concluded the initial close of its second Alternative Investment Fund (AIF), WOLP Fund 2, raising an impressive INR 500 crores from domestic high net worth and family office investors within a short span of eight weeks. The speed of the raise underscores the strong investor confidence in both, the Welspun One platform and the prospects of the warehousing and industrial sector in India. WOLP Fund 2 was launched in March 2023 and aims to raise a corpus of INR 2,000 Crore, including a green shoe option of INR 1,000 Crore. Along with project level debt, this is expected to give the fund enough dry powder to invest in projects which entail an outlay of over INR 6,000 crore. Fund 2 is the successor to WOLP Fund 1, introduced in early 2021, which has since been fully committed across a portfolio of 6 projects pan-India aggregating to 6.5 million square feet of grade A warehousing and industrial space. Fund 1 has also delivered an impressive track record with over 50% of the Fund 1 portfolio close to being leased and physically delivered within a short span of two years. Fund 2 will further add 10-12 million square feet of new projects to this footprint, taking Welspun One’s total portfolio to 16-18 million square feet over the next 4-5 years. Anshul Singhal, Managing Director, Welspun One Logistics Parks, said, “We are pleased to witness an exceptional investor response, as the first round of WOLP Fund 2 successfully closed at INR 500 Crore within a remarkable 8-week timeframe, which is a record of sorts in the alternative investments space. This achievement not only exemplifies the high …

As cargo-partner celebrates its 40th anniversary, founder Stefan Krauter has decided to sell the Austrian global logistics company to Nippon Express Holdings, which is also the parent company of Nippon Express, APC and Franco Vago. “Having started operations in 1983 with only five employees at Vienna Airport and having developed the company almost completely organically to now 4,000 employees in 40 countries around the globe, Stefan Krauter had already passed on the baton to his management and now has also passed over ownership to his ideal successor,” says an official release. cargo-partner’s turnover increased 14 percent to €2.06 billion ($2.3 billion) in 2022 compared to 2021 when it had increased 72 percent YoY to over €1.8 billion. “Leadership by agile founders bears some considerable advantages but from a certain stage on, highly professional and long-term stable ownership is the bigger asset,” says Krauter. “It is the founders’ challenge and responsibility to decide about both management and ownership succession at the right time. Not too early to be able to build a stable internal management succession but, for sure, also not too late. That is why, together with the corporate executive board, we started evaluating different options for the future of cargo-partner. “It would also have been a good option for the management and employees to continue going completely alone but since the ideal new strategic owner was found in NX Group, we were ultimately convinced that this was the right way to go forward. Following the integration policy we have seen from NX Group so far, cargo-partner will remain cargo-partner in regard to both organisation and branding – and it will become the strongest cargo-partner ever.” The deal was signed …

An agreement has been signed by DSV and Worldwide Flight Services (WFS) for a long-term European Gateway cargo handling contract for Liege Airport in Belgium. This latest agreement adds to a growing partnership between WFS, which was acquired by the SATS Group in April this year, and DSV. WFS also provides air logistics services for DSV in Amsterdam and at Huntsville International Airport in Alabama in the US. “Further network collaboration is under review”, WFS opined positively. WFS is resourcing and operating DSV’s hub facility in Liege, providing warehouse handling of cargo carried onboard the all-cargo charters and commercial freighter services that are operated by various airline partners of DSV. The DSV Liege Gateway consolidates and deconsolidates cargo for all European DSV businesses moving cargo along the company’s most frequently used trade lanes, including to/from Hong Kong, Johannesburg, Dubai and New York JFK. WFS operates 25,000 sq m of warehouse space, split over two facilities, and handles approximately 200,000 tonnes of cargo a year at Liege. WFS has direct airside access and also operates ramp services at Liege. Further development As well as handling general cargo, the hub will be developed for special cargo types, including pharmaceuticals and perishables, which WFS is already equipped to support.

The Samakhiyali Tollway, an SPV and Wholly-owned subsidiary of IRB Infrastructure Developers Ltd. (IRB Infra) has executed the Concession Agreement with National Highway Authority of India (NHAI) for an upgradation of existing 4 lanes to 6 lanes of NH27 stretch of 90.90 Kms from Samakhiyali to Santalpur in the State of Gujarat on Build-Operate-Transfer (Toll) mode. Virendra D. Mhaiskar, Chairman & Managing Director said, “Executing the Concession Agreement is an important phase for any project that enables the developer to proceed to the next step, i.e., arranging finances for the project. We will excel ourselves to meet the expectations of our stakeholders on developing this project as one of the best world class quality and safety infrastructure with our rich in house domain expertise and experience in executing large projects” Key highlights of the Project are as Project length is 90.90 Km, Project Cost Total Project Cost – Rs. 2,132 Crores, Concession Period is 20 years from the Appointed Date including 2 years of construction period and the company endeavors to execute this Project through its Associate viz. IRB Infrastructure Trust.

EXZOD India will enter the Middle East and South East Asian markets as it expands into new geographies to cater to the ever-increasing market for pallets. At present, the company has four manufacturing units in Punjab, Maharashtra, Haryana and Telangana. The units are equipped with state-of-the-art automatic pallet manufacturing machines. According to Nitin Kalla, founder & MD, EXZOD India, “Increase in trade across industries has led to demand for pallets worldwide and we have established our presence in India with our four plants. As we foray into overseas markets, we have decided to set up our presence in the Middle East and South East Asia.” He further added, “Dubai, Indonesia, and Vietnam are key hubs for generating business in the respective regions, and establishing a state-of-the-art manufacturing unit in these key hubs will allow us to be in proximity to our clients in the region.’’ The company also plans to expand its Annual Maintenance Contract services for pallets in these regions as this will enable logistics companies and manufacturers to focus on their business. The company’s expertise in the supply chain space allows it to provide customized solutions as per requirement. The company provides technology-embedded AMC Services which is the only organized player present in the industry. Exzod has seen the demand for pallets growing exponentially.

FedEx Express India receives the Authorized Economic Operator (AEO) Program accreditation in categories including Logistic Service Provider, Courier, Custodian, and Customs Broker. “We are honored to be recognized by the Indian Customs in compliance with the World Customs Organization SAFE framework of standards. We remain committed to strive for excellence in delivering what’s next for better future trade,” said an official press release. In another development, FedEx Express (FedEx) has teamed up with Social Alpha, a multistage innovation curation and venture development platform for science and technology start-ups to launch the ‘FedEx and Social Alpha Accelerator for Sustainable Last-mile Logistics’ – a unique program thoughtfully curated to nurture and support innovative ventures that are working towards creating a vibrant mobility space to serve marginalised and underserved communities.

Hermes Logistics Technologies (HLT) and Awery Aviation Software have announced a partnership agreement and launched a new joint software-as-a-service (SaaS) solution for airlines. The new SaaS product is called h2A. Powered by Awery and Hermes, this cloud-based, end-to-end solution is designed to enable airlines to manage, monitor and automate all aviation business processes and cargo operations on an integrated IT platform. h2A is said by the partners to be “the only comprehensive platform to manage all processes across the entire lifecycle of [a] shipment, from warehousing to flight management and commercial activities, as well as all HR [human resources] and business processes behind the scenes”. It digitises key processes across flight scheduling, fleet management, track and trace, imports and exports, ULD control, and invoicing and accounts, whilst also offering flexibility to suit the specific needs of its users. “This partnership responds to an industry need to synchronise numerous, disparate workflow processes, something that can only be achieved through true integration and digitalisation,” said Vitaly Smilianets, Awery’s chief executive. “This will enable greater process control and simplify operations for airlines, who can find everything they need in one place.” By combining Awery’s knowledge of creating scalable aviation software platforms and HLT’s experience as a leading provider of cargo management systems, the pair have – they said – created a first-of-its-kind product that offers airlines twice the technical expertise in a single solution. “At HLT we believe that collaboration between tech partners offering best-of-breed solutions is key to truly optimising air cargo management, and our joint venture with Awery marks a significant step in our strategy to help digitalise the industry,” remarked Yuval Baruch, HLT’s chief executive. “h2A brings the best of …

Mahindra Logistics Ltd. (MLL) announced commencement of Cargo Charter operations in the Middle East, headquartered in Dubai. With this launch, the company will augment freight forwarding with cargo charter operations partnering with customers in Electronics, Consumer Durables, Pharma and Engineering. The choice of Dubai, UAE as the hub for its global charter operations bears strategic importance. Over the past few decades, UAE has emerged as India’s third largest trading partner in the year 2021-22. Dubai has also emerged as a global and regional trading hub. Mahindra Logistics will service the large Middle East region from its Dubai operations. As a neutral player entering the global air cargo charter business, the company will offer dedicated aircrafts, enhanced transit time, and the expertise in end market solution development, integration with other logistics services and a strong technology interface. Rampraveen Swaminathan, Managing Director & CEO, Mahindra Logistics, said, “In line with our vision of enhancing our services, we are pleased to launch our Cargo Charter operations, based in Dubai UAE. This also marks the first international foray for Mahindra Logistics. With increasing complexity in global supply chains, cross border supply chain services have become critical to supply chain resilience. The business expands our cross-border logistics business, in addition to our current freight forwarding business, providing our customers enhanced service options. The UAE, and Dubai, provide us a great launchpad to develop the business”. Saurav Chakraborty, Head – Global Cross Border Solutions at Mahindra Logistics Limited commented, “We have chosen Dubai as the location for our air charter brokering business due to the unparalleled access and connectivity it provides. The charter business will be an independent division serving customers and partners across multiple vertical …

Tushar Jani, Group Chairman, Cargo Service Center said, “I believe 70 – 75 percentage of generic drugs today are exported to the Europe and US from India. I think that’s very critical. Our pharma manufacturing industry has been doing a fantastic job and getting regular FDA approvals from the US Drug administrators, during inspection. Today you go to any pharmacy abroad you will find many Indian generic drugs. The important factor is if this development enables us to build cross border pharma e-commerce capabilities out of India. As a company, our vision now is to develop pharma e-commerce capabilities and increase our world share. Around 31 % of depression drug is in fact transported from India to US. If we develop the capability of giving pharma e-commerce services, the world would recognize us and that’s what’s needed. Domestic pharma industry would also benefit greatly from this vision. We have to develop our skills for product delivery to Europe and US in a most controlled manner. We need to immediately take action on temperature excursions at any point in supply chain and also need to have infrastructure controlled by us on the destination. In my company our workers are being trained about variety of drugs being loaded/ off loaded. We need to have a robust supply from starting point to the destination. That’s where investment is needed from the Indian service providers to give good reliable pharma to the world.”