TCI and FLYING WHALES announce a strategic collaboration to strengthen integrated logistics solutions in India

On the occasion of the official summit between the President of the French Republic, Emmanuel Macron, and Prime Minister Narendra Modi, FLYING WHALES SERVICES (FWS) and Transport Corporation of India Limited (TCI) are pleased to announce strategic collaboration to strengthen integrated logistics solutions in India. The MOU was signed in the presence of Mr. Vineet Agarwal, Managing Director, and Mr. Rajkiran Kanagala, Chief Business Officer, Transport Corporation of India and Mr. Sébastien Bougon, President of FLYING WHALES and President of FLYING WHALES SERVICES, FLYING WHALES' operation subsidiary.

Transport Corporation of India Limited ("TCI"), India's leading integrated logistics and supply chain solutions provider and a publicly listed company on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), today announced that it is working together with FLYING WHALES and FLYING WHALES SERVICES its operation subsidiary, a French group that is developing, the LCA60T aeronautical program, a rigid cargo airship with a large payload capacity of 60 tons. The LCA60T has the unique ability to load and deliver its cargo in stationary flight. It will decarbonize transportion of goods, including heavy or bulky loads, and explore new and develop existing logistics, infrastructure and supply chain solutions in India, with a specific focus on enabling high-value and mission-critical programs.

FLYING WHALES is a French-Canadian company that is developing an ambitious and unique program thanks to its innovations and the quality of its teams and its industrial consortium: the LCA60T, a rigid airship for the transport of heavy loads, with a carrying capacity of 60 tons. Originally designed to meet the needs of exploiting renewable wood resources in hard-to-reach areas, the LCA60T's unique hover loading and unloading characteristics will provide solutions to many logistical and landlocked problems around the world, with a very small environmental footprint. This solution will make it possible, at a lower cost, to free itself from all terrestrial constraints for point-to-point transport of heavy or bulky loads. Finally, FLYING WHALES is also developing FLYING WHALES SERVICES, the operating company of the LCA60T.

To deploy its sustainable heavy-lift air cargo solution in the Middle East and Asia-Pacific, FLYING WHALES is advancing discussions to establish its third global hub in Tamil Nadu, India. Under its "Three Pillars" strategy, India would welcome FLYING WHALES' production and operations activities for these regions. The strategic collaboration between TCI and FLYING WHALES will further accelerate this ambition, especially across India.

To deploy its sustainable heavy-lift air cargo solution across the Middle East and AsiaPacific, FLYING WHALES is advancing discussions to establish its third global hub in the State of Tamil Nadu, India. Under its "Three Pillars" strategy, India would host FLYING WHALES' production and operational activities for these regions, positioning the country at the heart of the LCA60T industrial and commercial rollout. The present strategic collaboration between TCI and FLYING WHALES will be a key accelerator of this ambition, particularly across the Indian market.

Commenting on the collaboration, Mr. Vineet Agarwal, Managing Director, TCI said: "TCI has consistently partnered with leading global and domestic organizations to provide state-of-the-art logistics solutions for our customers. Flying whales innovative technology will provide low carbon, efficient solutions to remotest locations thus accelerating PM Gati Shakti National Master Plan for Multi-modal connectivity."

"Marking our first strategic partnership in India, this collaboration with TCI is a pivotal step in FLYING WHALES' international expansion. By combining our LCA60T technology, the world's only solution for heavy-lift transport without ground infrastructure with TCI's unparalleled logistical expertise, we are providing a tangible answer to India's connectivity and ecological transition challenges. Together, we are making the impossible possible: delivering 60 tons of strategic equipment to the country's most remote areas with a minimal environmental footprint", explaining Sébastien BOUGON, President of FLYING WHALES.

Shares of Transport Corporation of India Limited was last trading in BSE at Rs. 1048.65 as compared to the previous close of Rs. 1044.85. The total number of shares traded during the day was 309 in over 54 trades.

The stock hit an intraday high of Rs. 1068.75 and intraday low of 1038.00. The net turnover during the day was Rs. 324786.00.

Source : Equity Bulls

Keywords

TransportCorporationofIndia INE688A01022 TCI Collaboration FLYINGWHALES