India’s Express Global Logistics (EXG) and Italy’s Fagioli have formed a Mumbai-based joint venture that will handle transport and logistics projects in the construction, petrochemical and heavy industrial sectors – Megaload.
Fagioli has been present in India for almost two decades with its own staff and resources. These will be merged into the joint venture.
Megaload will cater to the heavy lifting and transport industry in the Indian Subcontinent, calling upon a large inventory of SPMTs, alternative lifting, strand jacks and gantry systems. It will serve the growing demand across the subcontinent.
The joint venture said that India has huge infrastructural plans for the next decade. “India is the highest growing economy in the world presently and poised to become a USD5 trillion economy by 2026, indicating sizeable growth prospects for Megaload across served markets,” it added.
Projects worth USD58 billion in the oil and gas sector have been scheduled in the next few years. The partners said that the joint venture has the necessary resources to satisfy not only the technical scope of works but can deliver comprehensive packages that meet appropriate occupational health safety and environmental standards.
EXG managing director, Nailesh Gandhi, said: “EXG has a pan-India presence backed by a large fleet of axles,cranes, and other equipment. The addition of the SPMTs and alternate lifting systems in Megaload, is part of EXG’s vision and plans for growth to become afully integrated project logistics service provider backed with the latest equipment and technology.”