Transport Corp of India has earmarked about 1.1 billion rupees in FY12 to expand its fleet of trucks and ships as also its warehousing facility, a top official said at an analyst meeting.

The firm plans to spend up to 400 million rupees to add between 100-150 trucks and an equivalent amount to expand its warehousing facilities across India, Chander Agarwal, executive director, said.

The firm also plans to spend up to 250 million rupees to add a seventh ship to its fleet this year, he said.

It needs to raise around 650 million rupees through equity, which will be used for funding projects of its sister firm TCI Developers Ltd but was yet to obtain board approval for the fund raising, he said. (Reuters)