India’s Express Global Logistics (EXG) and Italy’s Fagioli have established a Mumbai-based joint venture that will handle transport and logistics projects in the construction, petrochemical and heavy industry sectors – Megaload.
Fagioli has been present in India with its own staff and resources for almost two decades. These will be brought into the joint venture.
Megaload will serve the heavy lift and transportation industries across the Indian subcontinent, utilizing a large inventory of SPMTs, alternative lifting systems, strand jacks and gantry systems. It will serve the growing demand across the subcontinent.
The joint venture said India has huge infrastructure plans for the next decade. “India is currently the fastest growing economy in the world and poised to become a $5 trillion economy by 2026, indicating significant growth prospects for Megaload across all markets served,” it added.
Projects worth USD 58 billion are planned in the oil and gas sector over the next few years. The partners said the joint venture has the necessary resources not only to meet the technical scope of the work, but also to deliver comprehensive packages that meet appropriate health and safety and environmental standards.
EXG Managing Director Nailesh Gandhi said: “EXG has a presence across India and is supported by a large fleet of axles, cranes and other equipment. The addition of the SPMTs and alternative lifting systems in Megaload is part of EXG’s vision and growth plans to become a fully integrated project logistics service provider, equipped with the latest equipment and technology.”