Shreyas inks pact with Tata Motors to acquire GPS trailers

"Shreyas Shipping & Logistics Limited ...through  its wholly owned subsidiary Shreyas Relay Systems Limited (SRS) has signed a Memorandum of Understanding with Tata Motors for acquisition of 50 trailers," the company said in a statement.

The trailers to be acquired by Tata Motors are new age vehicles with cutting-edge technologies and have GPS connectivity, providing real time information to the clients about cargo, container and other key aspects, it said.

The company plans to invest Rs 17 crore at regular intervals for acquiring 50 trailers, it said adding that the move is "part of a plan to acquire 100 such trailers soon to emerge as India's preferred integrated logistics solutions provider."

Shreyas Shipping Chairman & Managing Director S Ramakrishnan said, "This is in-line with our long term vision of being the most reliable, integrated logistics solutions provider in the country."

Besides, Shreyas has also sealed an agreement for a warehouse and domestic cargo distribution centre at Tuticorin. The facility at Tuticorin will be operational within the next few weeks, the company said and added it has also firmed up plans for establishing similar facilities at Mundra and Cochin almost immediately.

Shreyas Shipping is part of the Transworld Group of Companies. The company now has a fleet of four vessels with size ranging from 500 Twentyfoot Equivalent Units (TEU) to 1000 TEU.