BENGALURU: FM Logistic, a French third-party logistics (3PL) company, has opened its first owned multi-client facility Farrukhnagar, Haryana on Tuesday, which is part of the $150 million investment plan it announced in March 2019.
The 7.6 lakh sq ft warehousing facility is located on a 31-acre site, which provides faster access to major consumption centres in north India.
“FM Logistic in India is ready to cater to the rising demand for omni-channel commerce which is driving the demand for outsourced logistics services. With this new state-of-the-art facility in Farrukhnagar, we aim to help our customers efficiently answer their growing business needs and help them build and maintain sustainable omni-channel supply chains,” said chief executive Jean-Christophe Machet.
In 2016, FM Logistic had bought a majority stake in Spear Logistics, which also marked its entry into the Indian market. It has four multi-customer facilities – two in Mumbai, and one each in Bengaluru and Gurugram.
“We have invested about $60 million so far since 2019, and will deploy another $90 million in land, construction, IT, automation, among others. We are expecting 40-50% revenue growth in 2022-23 and looking at setting up new facilities, either on long-term lease or buy land and develop it,” Alexandre-Amine Soufiani, managing director, FM Logistic India in an interview.
Other than expanding in the cities it is already present in, FM Logistic will also enter Hyderabad.
“FM Logistic aims to strengthen its leading position in India, thanks to a good combination of multi-client and dedicated sites responding to customer needs, the management of a global supply chain (warehousing, distribution, value-added services) according to an omni-channel model (B2B and B2C), innovation, sustainable development and social responsibility,” Soufiani added.
